It will generally match your energy. Big cats like tigers can put a hurtful pinch, gash, or puncture wound in your arm just by messing around.
If you react in fright, it can escalate the situation till the cat mixes in predatory instincts into the play fight. Then you can literally bleed out to death from playing or be actually eaten.
The picture below is considered playfight with a tiger. You can control the situation better, but chances are you'll end up dominated.