Consolation is something that makes someone feel better after they're disappointed or sad.
This is a word for things that try to console someone. A consolation prize isn't as good as first prize, but it's better than nothing. A hug is little consolation when you've had your heart broken. You give someone consolation when try to cheer them up. Consolation can be the act of making someone feel better, like trying to make them laugh, but it can also be something that makes someone happy, like a plate of warm cookies.