The Collaborative International Dictionary of English v.0.48:

Junket \Jun"ket\, v. t. [imp. & p. p. Junketed; p. pr. & vb.
   n. Junketing.]
   To give entertainment to; to feast.
   [1913 Webster]

         The good woman took my lodgings over my head, and was
         in such a hurry to junket her neighbors. --Walpole.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Junket \Jun"ket\, n. [Formerly also juncate, fr. It. giuncata
   cream cheese, made in a wicker or rush basket, fr. L. juncus
   a rush. See 2d Junk, and cf. Juncate.]
   [1913 Webster]
   1. A cheese cake; a sweetmeat; any delicate food.
      [1913 Webster]

            How Faery Mab the junkets eat.        --Milton.
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            Victuals varied well in taste,
            And other junkets.                    --Chapman.
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   2. A feast; an entertainment.
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            A new jaunt or junket every night.    --Thackeray.
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   3. A trip made at the expense of an organization of which the
      traveller is an official, ostensibly to obtain information
      relevant to one's duties; especially, a trip made by a
      public official at government expense. The term is
      sometimes used opprobriously, from a belief that such
      trips are often taken for private pleasure, and are
      therefore a waste of public money; as, a congressional
      junket to a tropical country.
      [PJC]

The Collaborative International Dictionary of English v.0.48:

Junket \Jun"ket\, v. i.
   To feast; to banquet; to make an entertainment; -- sometimes
   applied opprobriously to feasting by public officers at the
   public cost.
   [1913 Webster]

         Job's children junketed and feasted together often.
                                                  --South.
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WordNet (r) 3.0 (2006):

junket
    n 1: dessert made of sweetened milk coagulated with rennet
    2: a journey taken for pleasure; "many summer excursions to the
       shore"; "it was merely a pleasure trip"; "after cautious
       sashays into the field" [syn: excursion, jaunt, outing,
       junket, pleasure trip, expedition, sashay]
    3: a trip taken by an official at public expense
    v 1: go on a pleasure trip [syn: junketeer, junket]
    2: provide a feast or banquet for [syn: feast, banquet,
       junket]
    3: partake in a feast or banquet [syn: feast, banquet,
       junket]

Moby Thesaurus II by Grady Ward, 1.0:

42 Moby Thesaurus words for "junket":
   Charlotte, campaign, carrot pudding, chocolate mousse, circuit,
   course, custard, duff, excursion, expedition, flan, grand tour,
   jaunt, journey, mousse, outing, package tour, peregrination,
   pilgrimage, pleasure trip, plum pudding, progress, pudding, rennet,
   round trip, roundabout, rubberneck tour, run, safari, sally, shoot,
   stalk, steamed pudding, syllabub, tapioca pudding, tour, trek,
   trifle, trip, turn, vanilla pudding, voyage