Definitions for "Wassail"
An ancient expression of good wishes on a festive occasion, especially in drinking to some one.
An occasion on which such good wishes are expressed in drinking; a drinking bout; a carouse.
The liquor used for a wassail; esp., a beverage formerly much used in England at Christmas and other festivals, made of ale (or wine) flavored with spices, sugar, toast, roasted apples, etc.; -- called also lamb's wool.