imbibe (verb) – to drink (for formal or comical use)
Here are some examples of how you can use it:
In many fraternities (= student organizations) students imbibe enormous amounts of alcohol.
The patient should not imbibe liquids that are too thin as she has a problem swallowing.
It looks as if John has imbibed a few beers too many. Time to go home!
Did you hear of those chimpanzees that imbibe the juice of fermented berries?