Nouns

(n)wassaila punch made of sweetened ale or wine heated with spices and roasted apples; especially at Christmas

Verbs

(v)revel, racket, make whoopee, make merry, make happy, whoop it up, jollify, wassailcelebrate noisily, often indulging in drinking; engage in uproarious festivities“The members of the wedding party made merry all night”, “Let's whoop it up — the boss is gone!”
(v)toast, drink, pledge, salute, wassailpropose a toast to“Let us toast the birthday girl!”, “Let's drink to the New Year”