Starbucks has a new Frappuccino for the summer

A Starbucks Strawberry Funnel Cake Frappuccino. (Source: Starbucks via CNN)

Starbucks is ringing in summer with a Strawberry Funnel Cake Frappuccino, its first new limited time flavour in more than three years.

The new menu item taps into the trend of customers "turning to nostalgic flavors inspired by past experiences" including fairs and amusement parks, the chain said in a statement.

The Strawberry Funnel Cake Frappuccino blends strawberry puree and a whipped cream swirled with funnel cake flavours, which is then topped with powdered sugar funnel cake pieces.

The drink, which goes on sale Tuesday, is part of Starbucks' summer menu that also includes a unicorn-shaped cake pop.

Cold drinks continue to perform well for Starbucks, now accounting for more than 50% of store sales. The company also highlighted strong sales for its new cold-pressed espresso, cold brew coffee and oat milk-based drinks in its most recent earnings call.

Starbucks has found success attracting younger customers with its cold coffee drinks, which are seen as an alternative to other caffeine sources like soda and energy drinks, according to a report from Guggenheim Partners.

And Starbucks customers are more loyal to cold brews and iced coffees — which spurred the company to launch a new line of cold brew bottled beverages at grocery stores.