The shepherd, however, bit as my cry counseled him; he bit with a good bite. Far away he spewed the head of the snake — and he jumped up. No longer shepherd. no longer human — one changed, radiant, laughing! Never yet on earth has a human being laughed as he laughed! O my brothers, I heard a laughter that was no human laughter; and now a thirst gnaws at me, a longing that never grows still. My longing for this laughter gnaws at me; oh, how do I bear to go on living! And how could I bear to die now!
Nietzsche - Thus Spoke Zarathustra
Cosmic laughter is different from the laughter of the child who is the only being capable of loving herself and embracing every moment without any awareness of the terror of the inevitable return of many similar moments. Cosmic laughter is instead the "Olympian laughter" of the "deeply wounded,"97 those, like Nietzsche, who have suffered greatly, who know eternal recurrence as an "abysmal thought," but who still realize that they must embrace it with a child's acceptance. It is the laughter of the lion, who has come home to Zarathustra's mountain retreat resigned to the futility of all his Nay-saying and protesting-- in short, a reformed Titan.98 It is also the laughter of the Daoist sage or Zen master who says "Yes" to anything and everything in the universe, even though at its core it is a faceless hundun.
Excerpted from N. F. Gier, Spiritual Titanism: Indian, Chinese, and Western Perspectives