The most common and most likely answer to this crossword clue is the 8 letter word WASSAILS
I've seen this crossword clue in The Daily Telegraph
W
A
S
S
A
I
L
S
More clues leading to the result WASSAILS
Buddy explains!
The straight part
We know that "revels" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case revels = wassails.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does WASSAILS mean?
WASSAILS noun- A toast to health, usually on a festive occasion.
- The beverage served during a wassail, especially one made of ale or wine flavoured with spices, sugar, roasted apples, etc.
- Revelry.
- A festive or drinking song or glee.