The expansible amusement device is a compressed package formed from paper goods, plastic goods or the like, which, under selective decompression, disperses confetti and generates acoustic effects. A plurality of elastically expandable members are stacked together and compressed between a pair of bases. A plurality of confetti strips are positioned between adjacent elastically expandable members when the expansible amusement device is in the compressed configuration, and a deployment strip is peripherally wrapped about the compressed device. The deployment strip has a free end and a fixed end, and at least one retaining member releasably secures the fixed end of the deployment strip to the pair of bases when the expansible amusement device is in the compressed configuration.