A mixture of gasoline and sparkly water that looks like cola. Usually sold by homeless people
"Hey man can i get some of that nigger cola?"
"(homeless man mixing gasoline and sparkly water) here man. That will cost 20 dollars"
"Here ya go"
"Thanks. now im gonna use this to go get me some nigger water"
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.