My my DS just had it 3 weeks ago.
It's a clear glass with 7-Up in it. The blue glow is from a plastic ice cube which has a blue light bulb inside which is lit up.
You get to keep the plastic light bulb. There is a button on the botton. The button turns off the light, turns on the light and also has an option to have the blue light in the ice cube blink on and off.
Very cool drink for a teenager.