Makara fizz was a type of beverage.
In 2375, Kesha initially wanted to order one in Vic's lounge. However, Nog told her the place did not serve them, so she went for a martini with two olives instead. (DS9: "It's Only a Paper Moon")
The reason Vic's didn't serve the drink was probably that the holoprogram was period-specific to 1960s Earth.
Makara herbs might have been an ingredient of a Makara fizz.