Definition of wassails:
(n) :
A toast to health, usually on a festive occasion.
(n) :
The beverage served during a wassail, especially one made of ale or wine flavoured with spices, sugar, roasted apples, etc.
(v) :
(transitive) To toast, to drink to the health of another.
(v) :
(intransitive) To drink wassail.
(n) :
Revelry.
(n) :
A festive or drinking song or glee.