In very high spirits (4-1-4)
I believe the answer is:
cock-a-hoop
'in very high spirits' is the definition.
(I've seen this before)
This is the entire clue.
(Other definitions for cock-a-hoop that I've seen before include "Over the moon" , "Elated" , "Overjoyed" , "Ecstatic" , "Jumping for joy" .)