Etymology
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bonfire (n.)

1550s, from Middle English banefire (late 15c.), "a fire in which bones are burned." See bone (n.) + fire (n.). Original sense obsolete and forgotten by 18c.; as "large open-air fire for public amusement or celebration," from late 15c. From 17c. as "large fire from any material,"

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Definitions of bonfire

bonfire (n.)
a large outdoor fire that is lighted as a signal or in celebration;
Synonyms: balefire
From wordnet.princeton.edu