Most “animal” alcohols are actually some variety of carbohydrate + yeast → ethanol combined with animal products for flavoring. Think of bacon-infused vodka as an example. And, I could certainly see vodka infused with: fried foal sausage, grilled leggie, grilled fluffy steak, raw fluffy steak, etc.
In my headcanon, fluffies have a lot of sugars in their tissues for an extra burst of energy in emergencies. The best way to extract those sugars is from the fluffy’s tears (and I have an entire article on “rum” made from those tears). I could certainly see a specialty Fluffy Rum infused with fluffy flavors as described above.
Now, the scenario you’re talking about, fermenting fluffy tissues into ethanol, is the least likely and the most difficult under any realistic scenario. Fluffies have some carbohydrates but like most animals they are mostly fat and protein, and fats and proteins get in the way of the fermentation process. It’s not very likely to taste good.