a party or celebration.
Next week we've got the rabble that is the Tory fascists party gathering for their annual jolly .
a lapstraked ship's boat that is smaller than a cutter, typically hoisted at the stern of the ship.
In the old days, this meant sending jolly boats ashore and sacking a town, as Captain Henry Morgan did throughout the Spanish colonies at Portobello, Maracaibo, and Panama City in the late 17th century.