Something exhilarating is so exciting it makes you a little giddy. "Snowboarding that black-diamond trail was exhilarating!"
Zipping through the snow is certainly exhilarating, but ski bunnies and snowboarders might not choose this fancy adjective first. They might just yell, "Woohoo!" It's always been a fun-loving word; its Latin roots mean "gladden, cheer." A ride on a glass elevator with a cute vampire could be exhilarating, and so could a surprise party, or a ride on an old roller coaster. It can be so refreshing, you can't exhale after something exhilarating happens.