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It was a malt liquor that actually did have an astringent, champagne-like taste. Po' man's Dom Perignon or Taittinger's. Loved that stuff. I recall that it came in green 6-pack cans. Also, they had 4-pack bottles of Pink Champale and also a 3rd variety whose name may have been Golden.
I'm sure that some other manufacturer somewhere still produces an inferior version of it.