The term 'PEPSI-___' is a combination of three words: ONE (3 letters), COLA (4 letters), and MAX (3 letters). The first word, ONE, is a pronoun that refers to a single person or thing. The second word, COLA, is a type of carbonated soft drink that is flavored with either natural or artificial ingredients. The third word, MAX, is an abbreviation for maximum, which means the greatest amount or degree possible. Together, these three words form the term PEPSI-MAX, which is a brand of cola produced by PepsiCo.