Synonyms for Wassail (same or very similar meaning)
WordNet sense 1 (celebrate noisily, often indulging in drinking; engage in uproarious festivities):
racket, revel, jollify, make happy, make merry, make whoopie, whoop it up
WordNet sense 2 (propose a toast to):
drink, pledge, salute, toast
From the ODE community, based on WordNet
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