The Collaborative International Dictionary of English v.0.48:

Jollity \Jol"li*ty\, n. [From Jolly: cf. OF. joliet['e],
   jolivet['e].]
   Noisy mirth; gayety; merriment; festivity; boisterous
   enjoyment. --Chaucer.
   [1913 Webster]

         All now was turned to jollity and game.  --Milton.
   [1913 Webster]

         He with a proud jollity commanded him to leave that
         quarrel only for him, who was only worthy to enter into
         it.                                      --Sir P.
                                                  Sidney.

   Syn: Merriment; mirth; gayety; festivity; hilarity.
        [1913 Webster]

WordNet (r) 3.0 (2006):

jollity
    n 1: feeling jolly and jovial and full of good humor [syn:
         jollity, jolliness, joviality]

Moby Thesaurus II by Grady Ward, 1.0:

49 Moby Thesaurus words for "jollity":
   amusement, blitheness, cheer, conviviality, disport, festivity,
   frivolity, frolic, fun, gaiety, gambol, glee, gleefulness,
   good cheer, heartiness, high glee, hilariousness, hilarity,
   holiday-making, hoopla, jocularity, jocundity, jollification,
   jolliness, joviality, joy, joyfulness, joyousness, larking,
   laughter, levity, mafficking, merriment, merriness, merrymaking,
   mirth, mirthfulness, play, racketing, revel, reveling, revelment,
   revelry, revels, rollick, romp, skylarking, sport, whoopee