I imagine the alpaca being more contented than giggling. Like perhaps somewhere out of frame, you could see that it is standing next to a diploma from ITT Tech in criminal justice or A/C and refrigerator repair or something. And that look on its face is its way of communicating to you, the viewer, that alpaca-sense of "yay! I did it!"
I don't even know why I'm this insanely stupid today, honestly. I got a decent night's sleep and it's only 9:30.