Rollick and roll around island (7)
I believe the answer is:
roister
'rollick' is the definition.
(both can mean to behave jubilantly or boisterously)
'roll around island' is the wordplay.
'roll' becomes 'roster' (roll can mean a list or roster).
'around' means one lot of letters goes inside another.
'island' becomes 'i'.
'roster' placed around 'i' is 'ROISTER'.
'and' is the link.
(Other definitions for roister that I've seen before include "Carouse" , "Rioters (anag.)" , "Behave boisterously" , "bluster" , "Revel noisily, swagger" .)