The drink is being launched initially in Spain, though if it is successful it could be rolled out across Europe.
The look for the new drink has been created by a Spanish design company called Addison Espana, where project director Clair Canning said the taste of Pink Fish product is similar to Red Bull.
However, she said, consultancy is now working on pack design for a flavour variant that Cadbury Schweppes hopes will be a far more distinctive offering.
Canning said: "Pink Fish is being clearly positioned as an alternative to Red Bull, but it's not quite so linked to nightlife and dance culture as Red Bull is. Schweppes is a more conservative company and its brand is not so radical."