Raise a ring, ecstatic (4-1-4)
I believe the answer is:
cock-a-hoop
'ecstatic' is the definition.
(I've seen this before)
'raise a ring' is the wordplay.
'raise' becomes 'cock' (eg a dog can cock his leg).
'ring' becomes 'hoop' (synonyms).
'cock'+'a'+'hoop'='COCK-A-HOOP'
(Other definitions for cock-a-hoop that I've seen before include "Over the moon" , "Pleased and triumphant, like rooster with hula toy" , "Extremely pleased" , "Ecstatic" , "Elated" .)