A liquid that's carbonated is fizzy or bubbly. Ginger ale is a carbonated drink.
A fancier word for carbonated is effervescent. Anything that's described as a soft drink or a soda is carbonated, tasting fizzy on your tongue. Club soda, seltzer, champagne, and sparkling water are all also carbonated. The process of making a liquid carbonated involves dissolving pressurized carbon dioxide into it. The word comes from carbonic acid, a now obsolete word for carbon dioxide.