Source : Webster's Revised Unabridged Dictionary (1913)

Prank \Prank\, v. t. [imp. & p. p. {Pranked}; p. pr. & vb. n.
   {Pranking}.] [Cf. E. prink, also G. prangen, prunken, to
   shine, to make a show, Dan. prange, prunke, Sw. prunka, D.
   pronken.]
   To adorn in a showy manner; to dress or equip ostentatiously;
   -- often followed by up; as, to prank up the body. See
   {Prink}.

         In sumptuous tire she joyed herself to prank.
                                                  --Spenser.

Prank \Prank\, v. i.
   To make ostentatious show.

         White houses prank where once were huts. --M. Arnold.

Prank \Prank\, n.
   A gay or sportive action; a ludicrous, merry, or mischievous
   trick; a caper; a frolic. --Spenser.

         The harpies . . . played their accustomed pranks. --Sir
                                                  W. Raleigh.

         His pranks have been too broad to bear with. --Shak.

Prank \Prank\, a.
   Full of gambols or tricks. [Obs.]

Source : WordNet®

prank
     v 1: dress or decorate showily or gaudily; "Roses were pranking
          the lawn"
     2: dress up showily; "He pranked himself out in his best
        clothes"

prank
     n 1: acting like a clown or buffoon [syn: {buffoonery}, {clowning},
           {frivolity}, {harlequinade}]
     2: a ludicrous or grotesque act done for fun and amusement
        [syn: {antic}, {joke}, {trick}, {caper}, {put-on}]