Loki didn't even know what they were celebrating anymore. Asgardians didn't need much of an excuse to haul out the beer and the wild boar.
HUGH! MANLINESS! YAY FOR MANLINESSNESS! And if you'd prefer a quiet book in your nook, with a cup of something besides you to the dancing women, breaking of cups for no apparent reason whatsoever, and general manlinessness then you were a weakling . You would lose face. You were not of the same quality as them. Only Sif seemed to share his boredom, there at the other end of the table, but no chance of sharing the misery with her. She considered his pranks annoying and immature(most everyone did, when it came right down to it, save Thor, who called them genius when they were used on people he didn't like to cheer him up). And there was that unfortunate business with her previously golden mane when they were children. Seriously, Sif? Years ago, and you still hold a grudge? I was kid(technically, still am)! But, then, she was a woman, wasn't she? Hair went to the heart. And he was the second born. Any respect she had to muster up towards Thor was apparently not required on him.
The only way he managed to survive these feasts without dying inside was the occasional prank. He had to pick his moments carefully, and not over three. If father saw, then it'd have been better if he let the torture turn his brain inside out. No, just a tripped dancer in the midst of some fantastical spin here, a spilled drink there(he tried to ensure something got dripped on Sif once a week, which admittedly really wasn't helping his prospective friendship with her, but the look indignation on her prideful face was too good to pass up).
Usually people talked over the singers and dancers, the men giving and occasional look up and cheer so they'd know they were appreciated, but never their full attention. At first Loki had felt bad for the performers, but after long years of repetitious moves of leggy ladies with floaty streamers moving to songs that all seemed the same, he decided that if they were going to get the merest look of acknowledgement from him, they'd have to earn it. They'd have to at least, for goodness sakes, be interesting! Entertainers? He knew far more about entertainment that them, and without taking his pants off and dancing to- Hold on, that was an interesting thought. Not him, obviously, but perhaps the next time that Thor made himself a nuisance, which shouldn't take long. Maybe when he'd passed out from the alcohol. It was possible to animate people when they weren't fighting back, and Thor's sleepy subconscious trusted him. Hmm, a very interesting thought indeed.