Cold foam is a frothy milk-based topping that is typically served over cold brew, iced coffee, or iced tea. Unlike the hot steamed foam found on a latte or cappuccino, cold foam is made by vigorously aerating milk using a blender, special frothing device, or a French press, or by simply shaking milk in a jar. The ideal cold foam is both fluffy and pourable, gradually seeping into your preferred coffee drink or iced beverage over time.

Cold foam is made by frothing milk (or a non-dairy milk alternative) without the use of heat or steam. The foam is created by vigorously aerating milk using a blender, special frothing device, or a French press, or by simply shaking milk in a jar. The type of milk used can affect the quality of the foam. Skim milk is generally considered the best for making cold foam, as it flattens into liquid the slowest and has the smoothest texture and mouthfeel. Fat molecules weigh down frothed milk foam, which gets its structure from the proteins in milk, and cause the foam to collapse faster. With store-bought non-dairy milks, the foaming capabilities depend on whether or not they include stabilizers, regardless of the type of milk. "Barista blends" typically have added thickeners in the product specifically for the purpose of making hot or cold foam.

Sweet cream cold foam is a popular variation of cold foam that is made by blending heavy whipping cream, 2% milk, and vanilla syrup.