This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
恱 is a variant form of 悦, which combines 忄 (heart) with 兌 (a component associated with exchange or pleasure). The exact historical development of the variant 恱 is uncertain.
The left side 忄 suggests a heart-related meaning, and the right side resembles 悦 (joy). Picture a heart feeling a variant kind of joy.
For エツ, imagine an extra-special joy that makes you say 'Ets!' — a happy exclamation: Ets -> エツ.