Having the general idea in mind, I started modeling.

I needed a table, not too complex. I made this one: it�s some tube and some boxes and beveled a little. I added a wood texture and some bumps.







Then I made the glass. I made a tube, converted it to an editable poly, beveled some faces around and finally added a mesh smooth modifier.

I added a mental ray material, glass (physics_phen), with these settings:

Then I added some water drops on the glass. I made two geospheres, added noise to them and separately scattered them on the glass, on the outside faces. You can use any settings here as long as you are satisfied. I used the same material for the droplets as I did for the glass.