Champagne in a glass.
Houdini 18.5, Redshift 3.0.61. The top flow was generated with particles flow around a curve, the bottom flow was a fluid simulation with whitewater (only bubbles). Then both flows were meshed together. The scene is lit with seven lights, no hdri. 4K render took 20 mins with 4096 progressive passes. Closeup render took 90 mins.
BTS:
