no i don't know a cat that dose that, they usually puff up their tail when they are startled or maybe sometimes angry.the reason why is that they want to look bigger than the predator so they can scare who ever they are up against.
All of my ladies get the "happy tail" at times. They get it when I play with them, when they play among themselves, when I give them a special treat and so on. It is not an unusual behavior. If you will keep up with this thread, you will see a lot of people saying their cats do it all the time.
I know sometimes when my cat gets really excited while playing her tail will puff up.. But that is a "shock" reflex in cats, It can be excitement, or fear.. your little buddy could just be getting excited and puffing up..