The Collaborative International Dictionary of English v.0.48:

Jollification \Jol`li*fi*ca"tion\, n. [Jolly + L. -ficare (in
   comp.) to make. See -fy.]
   A merrymaking; noisy festivity. [Colloq.]
   [1913 Webster]

         We have had a jollification or so together. --Sir W.
                                                  Scott.
   [1913 Webster]

WordNet (r) 3.0 (2006):

jollification
    n 1: a boisterous celebration; a merry festivity [syn:
         merrymaking, conviviality, jollification]