The most common and most likely answer to this crossword clue is the 7 letter word SHERBET
I've seen this crossword clue in The Times
S
H
E
R
B
E
T
More clues leading to the result SHERBET
- Resolved to include mint, say, in Australian beer
- Novel opinion about king’s flavoured drink
- Mint, perhaps, in hard sweet stuff
- Second man splashing out rupees for cooling drink
- Fruity drink prepared without mint, say
- Drink's fixed, incorporating mint?
- What I do to keep Angelica or Rosemary sweet
- Perhaps he’s right to gamble and drink
- Sweet shop item that’s solidified with maybe mint filling
- Basil perhaps tucking into prescribed iced food
Buddy explains!

The straight part
We know that "cooling drink" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case cooling drink = sherbet.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does SHERBET mean?
SHERBET noun- A food of frozen fruit juice with a dairy product such as milk added; a sorbet with dairy ingredients.
- An effervescent powder made of bicarbonate of soda, sugar and flavourings, intended to be eaten alone or mixed with water to make a drink.
- A traditional West and South Asian sweet drink prepared from fruits or flower petals.
- An alcoholic drink, especially beer.