Michelada. Michelada is a Mexican cerveza preparada made with beer, lime juice, and assorted sauces, spices, and peppers. It is served in a chilled, salt-rimmed glass. There are numerous variations of this beverage throughout Mexico and Latin America.ichelada. Michelada is a Mexican cerveza preparada made with beer, lime juice, and assorted sauces, spices, and peppers. It is served in a chilled, salt-rimmed glass. There are numerous variations of this beverage throughout Mexico and Latin America.