The standard way to drink cachaça, as noted above, is in a caipirinha. Easy to make: crush lime wedges in a glass or a punch bowl, mix with crushed ice, sugar, and cachaça. No water apart from the ice.
Alternatively, there’s the caipifruta - basically a caipirinha where you substitute a fruit juice for the limes. I like the passion fruit version. The best I’ve had was a little different: cachaça, crushed ice, passion fruit juice concentrate, and condensed milk.
Or you could just drink it straight - I do, on occasion. It’s like non-spiced rum (obviously, since cachaça is basically Brazilian rum), but with a stronger taste. Lots of people don’t like it, though. Like vodka, or Scandinavian akvavit, there’s now a strong, small community that gets fanatical about cachaça-tasting and about finding small breweries with low, handmade production, and about homebrewing.
Well, for the really adventurous, there’s another drink I make on occasion, which I’ll write about even though you almost certainly won’t find the stuff to make it: chimarrão with cachaça. Chimarrão is a tea-like drink made from erva mate, a green herb native to Paraguay. You put the erva in a cuia, which is a cup made from a gourd, until it’s half-full, with the erva against the side. Then you add hot water from a thermos and drink the infusion through a bomba, which is a sort of straw made from steel. For the version I make with cachaça, I simply fill the thermos to about 10-20% with cachaça beforehand; adds to the flavour, sort of like putting a little Irish in your coffee. It’s also a great way of making a decent chimarrão when your only erva is of low quality, which is a problem I had for a little while.
On preview: cachaça basically is moonshine. Just a month or so ago I had some made in a guy’s bathtub, and it was pretty good. It’s where cachaça gets its other popular name from, “pinga” (from the verb “pingar”, “to drip”, as in dripping from the still). Another common name is, of course, “o diabo” - “the devil” 