This man is an idiot. He is wearing a motley. He has on a tight-fitting parti-striped dress and his head is surmounted by conical cap and bells.
Enough; the cough is mere nothing; it will not kill me. I shall not die of a cough.
The family motto means nobody attacks me without punishment. This is foreshadowing because Fortunado insulted Monstresor. So Monstesor is going to get his revenge and punish Fortunado for insulting him.
My dear Fortunado, you are luckily met.
When Monstresor is looking at him, he is hinting at the fact that Fortunado will play the role as a fool. As Fortunado keeps getting more drunk he fits into the role better as a clown.
This lets the reader infer that Fortunado will die, but it won't be from a cough.
For Fortunado this isn't good luck. Monstresor is planning to take action and kill Fortunado.
Fortunado's name means fortunate. He was the opposite of fortunate. Instead, he got buried alive by Monstrador.
As the reader, we know Monstresor is seeking revenge on Fortunado throughout the whole story, yet Fortunado doen't know this. He thinks he is just going to taste some wine to prove his experts on wine.