A communal joy, a celebration shared by many. Also, implies a lot of drinking of alcohol; very similar to tailgating for an event, without requiring the vehicles and parking lot.
"Jeffervescence" is the quality that someone named Jeff possesses when he is overflowing with enthusiasm, sparkling with charisma, beaming with light, exuding joy. The term was coined by Suzanne Whang (former host of HGTV's #1 show, "House Hunters") and was inspired by watching Jeff Vezain perform on stage with Gary Sinise's Lt. Dan Band.
As soon as he made his entrance on stage, grabbed the microphone and started singing, the audience was delighted and transfixed by his Jeffervescence.
Something effervescent has bubbles or froth, like a sparkling wine, a bubble bath, or Old Pulteney 12 Year Old Single Malt Scotch Whisky on Rex' Master Level Mooch pallet.
It is rare to have something so light, effervescent and friendly in the taste; when the nose is headed towards something that is complicated and rich.