To gambol is to run around playing excitedly. Although the word sounds like "gamble," when you gambol you never lose — you just have a great time!
If you've ever sprinted around, jumping up and down, yelling "woo-hoo!," you already know how to gambol. Being really excited or even just slap-happy makes people gambol, and it's so energizing that animals do it too. Dogs gambol when they rise on two legs to greet each other, and squirrels gambol when they chase each other up and down trees. And when springtime comes after a long winter, it seems to make every living thing gambol with extra life.