To enjoy oneself in a jolly and festive manner.(verb)
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Use "make merry" in a sentence
"Hayslope were to be at the Chase, and make merry there in honour of"
"It was meet that we should make merry and be glad: for this thy brother was dead, and is alive again; and was lost, and is found Luke 15:11ff."
"Nor was he let down till the master had planted a grove of birch in his back-side for the terrour and publick example of all waggs that divulge the secrets of Priscian and make merry with their teachers."