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1.
Things that you can drink, like water or juice. "Potable water" means you can drink it without harm. Often used when referring to alcohol.

Sometimes used in combination, "comestibles and potables."
That bar has plenty of fine potables, we should go over there after the fighter sweep Friday night.

-hotshot fighter pilot who likes to read
by Athene Airheart March 21, 2004
11 1
 
2.
Technically anything thats drinkable, but most commonly means the potent kind.
Person: Don't forget to bring the potables...

Person 2: YEA! Lets get WASTED!
by captininsanity April 24, 2006
3 4