The Collaborative International Dictionary of English v.0.48:

Gambol \Gam"bol\ v. i. [imp. & p. p. Gamboled, or Gambolled;
   p. pr. & vb. n. Gamboling or Gambolling.]
   To dance and skip about in sport; to frisk; to skip; to play
   in frolic, like boys or lambs.
   [1913 Webster]