The Collaborative International Dictionary of English v.0.48:

Clink \Clink\ (kl[i^][ng]k), v. t. [imp. & p. p. Clinked
   (kl[i^][ng]kt); p. pr. & vb. n. Clinking.] [OE. clinken;
   akin to G. klingen, D. klinken, SW. klinga, Dan. klinge;
   prob. of imitative origin. Cf. Clank, Clench, Click, v.
   i.]
   To cause to give out a slight, sharp, tinkling, sound, as by
   striking metallic or other sonorous bodies together.
   [1913 Webster]

         And let me the canakin clink.            --Shak.
   [1913 Webster]

WordNet (r) 3.0 (2006):

clinking
    adj 1: like the light sharp ringing sound of glasses being
           tapped