Bombay Sapphire tonic

skveppur, að skveppa: tonic, mix with tonic:
The only possible monosyllabic word for this kind of softdrink is an icelandification of the most popular brand which can be used a a generalizing term for all tonics: Schweppes (from the name of the originater Schweppe: skveppur, the verbal derivation 'skveppa' means 'to mix with tonic'.
sapphire: jarlsteinn: The corundum is the second hardest stone after the 'king of stones', the diamond, so it can be called 'jarlsteinn'. Because the red variety of the gem, the ruby, is already called 'roðasteinn' in Icelandic, 'jarlsteinn' can be used for the sapphire, which originally designated the blue variety but which is now used for all non-ruby corundum colour varieties.
Góðvík: Bombay (The name for Bombay used by the Fjölnismenn in the literary magazine Skírnir)
skveppt einiveig, einiskveppur: gin tonic