What does the cryptic crossword clue "The Spanish sparkling wine cold is variable (7)" mean?

The definition is "variable". The wordplay uses a charade (building blocks). EL (abbreviation of "Spanish") + ASTI (synonym of "sparkling wine") + C (synonym of "cold"); definition: "variable" The answer is ELASTIC.

The Spanish sparkling wine cold is variable (7)

Times Cryptic #28695 | 16 Across | 2023-08-30 flower

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