Found this on Google+ today and thought I'd share it (original link here):
1. TYPES OF BEER
barnsöl | child(birth) beer
brotferðaröl | going away beer
fagnarðaröl | welcome home beer
erfiöl | inheritance beer
2. DRINKING OF BEER
einmenningr | drinking singly
tvímenningr | drinking in pairs
drekka brullaup | drink the wedding
sveitardrykkja | party drinking
kappdrykkja | competitive drinking
úsleituliga | without restraint
3. ACTIVITIES WHILE DRINKING BEER
minni | toasts
heitstrenging | solemn vows
mannjafnðr | comparison of men
hnfilyrði | sarcastic drink words
kerskiyrði | jokes
4. EFFECTS OF BEER
gleði ok skemmtan | happiness & amusement
ölteiti | beer cheerfulness
kátr | cheerful or happy or aroused (!)
hestrr ok ölfrr | able to manage horse & beer
ölrir | drunk