Eggnog is a milk and egg-based rink that’s typically served around Christmas time. Thanks to the nutmeg and cinnamon spices, it is a sweet, custard flavored drink that’s slightly spicy. The texture is thicker than whole milk and is more like melted vanilla ice cream, here's a great homemade eggnog recipe if you'd like to try making your own.. It’s a rich, decadent drink that you either love or hate.