Toddy usually means a warm alcoholic drink made with liquor, hot water, sugar, and sometimes spices like cloves or lemon. It can also mean the fermented sap of certain palm trees, often called palm wine.

What it can mean

  • Hot toddy: a cozy mixed drink, often used as a home-style remedy for colds or chilly weather.
  • Palm toddy: fresh or fermented palm sap that may be drunk as a beverage or further processed into alcohol.

Simple example

A classic hot toddy might include whisky, hot water, honey or sugar, and lemon.

Tldr

So, “toddy” is mainly used for either a warm spiced drink or palm sap/palm wine.