"wassailing" in the verb sense
1. revel, racket, make whoopie, make merry, make happy, whoop it up, jollify, wassail
celebrate noisily, often indulging in drinking engage in uproarious festivities
"The members of the wedding party made merry all night"
"Let's whoop it up
2. toast, drink, pledge, salute, wassail
propose a toast to
"Let us toast the birthday girl!"
"Let's drink to the New Year"
Source: WordNet® (An amazing lexical database of English)
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