Do you know why sodas are referred to as colas or what cola really is? A cola is a sweet carbonated beverage containing cola-nut extract and other flavorings...What is cola-nut? Cola-nut or kola nut comes from the cola tree that grows in Africa, South America, and the West Indies. Caffeine and theobromine, used in the manufacture of some soft drinks, are derivatives of the cola nut. Chewing this nut is a favorite pastimes of natives who claim it diminishes fatigue and thirst and (for some) has aphrodisiac properties.