wassail

Noun
  1. A punch made of sweetened ale or wine heated with spices and roasted apples;
    Especially at Christmas (synset 107947520)
Verb
  1. Celebrate noisily, often indulging in drinking;
    Engage in uproarious festivities (synset 202497032)
    "The members of the wedding party made merry all night"; "Let's whoop it up--the boss is gone!"
  2. Propose a toast to (synset 201177764)
    "Let us toast the birthday girl!"; "Let's drink to the New Year"

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