Something tells me it isn't alcohol.

[He smells it anyway, though, just to make sure. It doesn't smell like any sort of alcohol he's had before, that much is for certain; if anything, it has a strange, almost burning odor to it that makes it unpleasant to sniff for more than a few seconds.]

Some kind of potion? It looks like it could've come straight out of a fairy tale, except it's missing the "Do Not Drink" sign.