drunktertainment

1. Something entertaining that happened while you're drunk.
2. Something you witnessed a drunk person do that was entertaining.
From Drunk+Entertainment.

1. "Hey guys, want some drunktertainment? Watch me try to jump from that roof to the other on my son's bike!"
2. "The neighborhood alcoholic is trying to jump from his house to another one about 100 feet away. This is gonna be some quality drunktertainment!"