Webster's Revised Unabridged Dictionary · 1913

Bonfire

Bonfire ({not transcribed}) , noun

[Old English bonefire, banefire, orig. a fire of bones; bone + fire; but compare also Prov. English bun a dry stalk.]

A large fire built in the open air, as an expression of public joy and exultation, or for amusement.
Full soon by bonfire and by bell, We learnt our liege was passing well. — Gay