Happinest childher everwere

• happiness

• happiest

• happy nest → continuing this paragraph's bird imagery

• happiest childer everywhere → partly a reference to the Christmas and Santa Claus themes

• childer: (archaic) children

• everywhere → the happiest children everywhere

• ever were → the happiest children there ever were

• H... c... e... → HCE

• H. C. E. Childers: 19th Century MP, nicknamed "Here Comes Everybody"
  • Third Census of Finnegans Wake