Craic, Sailing, Philadelphia & Cocktails - Mardi Gras 1984, Ari, my good friend to this day.

Irish word for fun/enjoyment that has been brought into the English language. usu. when mixed with alcohol and/or music.
'Bhi craic agus ceol againn' : We had fun and music.
Fun doesn't really cut it though. General banter, good times had by all.
Also, a person who is good fun/great company.