Use 'lark about' to describe light-hearted, playful behavior, often in a social setting. At the family reunion, the cousins were larking about in the yard.
Pro Tip 2/3
Not for Formality
'Lark about' is casual and may be inappropriate in formal or serious situations. I wouldn't say the CEO was larking about during the meeting; that's too informal.
Pro Tip 3/3
British Flavor
Remember it's a British phrase, so it might not be understood or used by English speakers elsewhere. My American friend didn't understand when I said we were just larking about.