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1.
Cold beer in spanish. Translates directly into "cold", but everyone knows that it means a nice cold beer on a hot day. The plural (frias) is usually used:

Person 1: "Oye, nos echamos unas frias?"
Person 2: "Si, pero tu invita guey ando quebrado".
Pendejo ya la cagastes, te chingaste la ultima fria, ahora te tocan puto.
by principecharro April 03, 2011
 
2.
A Fria is known to be an Awe-inspiring, beautiful woman, with stars in her eyes. A Fria tends to be extremely intelligent, and often has a love for nature, and the outdoors.
Wow, did you see that awe-inspiring, intelligent Fria, taking a walk in the forest?
by Ms. Hubbly Bubble November 08, 2010