A revel.
Revelry.
The beverage served during a wassail, especially one made of ale or wine flavoured with spices, sugar, roasted apples, etc.
A festive or drinking song or glee.
A toast to health, usually on a festive occasion.
To go from house to house at Christmastime, singing carols.
To toast, to drink to the health of another.
To drink wassail.