How did horses become involved in a term for innocent fun?
From Word Detective:
There are other horsey phrases explained and theorised over here.
Horses not only horse around, it’s also true that when they are “horsing around” the mood can turn quickly to real fighting… or to just stopping and grazing. It’s both a playful way to behave, and specifically a playful mood that comes and goes seeming randomly.
“Horsing around” does tend to imply a bit of “rough and tumble” in the larking about, though, j.c., rather than the “oh, hey, let’s play races around the paddock a bit before munching more grass”.