Etymology
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cooler (n.)

1570s, "a vessel in which liquids or other things are set to cool," agent noun from cool (v.). Meaning "portable insulated box to keep things cool" is from 1944. Slang meaning "jail" is attested from 1884. Meaning "long, cold drink," especially a mildly alcoholic one based mainly on fruit juice or a soft drink, is by 1953.

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Definitions of cooler

cooler (n.)
a refrigerator for cooling liquids;
Synonyms: ice chest
cooler (n.)
an iced drink especially white wine and fruit juice;
cooler (n.)
a cell for violent prisoners;
Synonyms: tank
From wordnet.princeton.edu