The term 'IT MAY BE SPIKED' can be solved by the crossword solutions PUNCH (5 letters) and HAIR (4 letters). PUNCH is a type of beverage that is usually made with fruit juice, soda, and alcohol. It is often served at parties and other social gatherings. HAIR is a type of fiber that grows from the scalp and is composed of proteins. It can be styled in various ways, including spiking it up. Therefore, the term 'IT MAY BE SPIKED' could refer to either PUNCH or HAIR.