The time, or the age, or period of development where “anything” goes, where you can be “somebody else.” Merriment and being carefree, but also a warning about pretense.
A dream about carnival points either to the need to stop pretense, to take off your mask (the persona, and show the true Self). Or it could be a message to be more outgoing and have more fun.
The image of the carnival often appears when you feel rigid and cut off from life. Particularly, when, in the dream, you are rejecting the carnival, you are denying your own wild and carefree side. Furthermore, carnival is also always connected to the Fool, a symbol that combines the absurd and the wise, and represents freedom. On the other hand, the fool is also somebody who, in a conventional sense, is unable to organize his everyday activities.
Folklore: Advancement.... Little Giant Encyclopedia
To dream of ecstasy suggests pleasure and merriment with your companions and family.
To dream about ecstasy in the moments after an upsetting dream indicates that you will encounter sadness and regret. You heart may be trying to heal from a recent situation.... Dream Symbols and Analysis
Bubbles can represent anything from a womb (especially if one dreams of emerging from a bubble), to merriment (a glass of “bubbly”) to disenchantment (bursting one’s bubble). Any one of these connotations might be indicated, so bubble images must be interpreted in the larger context of the dream.... Dream Symbols in The Dream Encyclopedia