The phrase is often used figuratively and does not mean literally drinking someone under a table. She claimed she could drink me under the table, but we both just had a couple of beers.
Pro Tip 2/3
Competitive Connotation
It implies a challenge or competition involving alcohol consumption. During the bachelor party, they tried to drink each other under the table.
Pro Tip 3/3
Not For Formal
It's informal and not suitable for professional or formal contexts. At the informal gathering, Joe boasted that no one could drink him under the table.