In alchemy an elixir is capable of prolonging life and of transmuting base metal into gold. In spiritual terms, therefore, it is the power of transformation.
Psychological / emotional perspective: A substance such as an elixir, which has undergone several processes to reach a state of purity, symbolizes a process of psychological change which many people go through, bringing understanding of ourselves and others.
Material aspects: In mundane terms an elixir is a distillation of the essence of things, so can signify the need to return to basics and simplify matters in order to find the most efficient solution.
Dreams of an elixir represent alchemy; you are changing and transforming from the inside out.
The elixir that you dream of ingesting is reacquainting you with your divine nature, eternal youth and your healing abilities.