to the praise of his glorious grace, with which he has blessed us in the Beloved. (ESV)
To whom do you give praise? We are prone to praise our children, our own accomplishments, or others who have been a help to us. We praise musicians, artists of various kinds, and teachers. While none of those things are necessarily wrong they can be wrong if we elevate them to a level that is above the praise of God's glorious grace! In fact, I will go out on a limb and step on some Evangelical toes. There are too many worship songs sung in too many churches that give praise to man and how wonderful we are that God just couldn't live without us. This is wrong precisely because all glory is to go to God, not to us.
We are to give praise to God, who is the giver of grace. All glory goes to him. His grace has blessed us. We have been saved as a gracious gift of our wonderful Father. He provided Christ to be the propitiation for our sins. Our debt is paid. We should live every day full of praise to God. If we forget who we were and what God has done we will fail at giving God the glory and praise he so rightly deserves.
 I will bless the LORD at all times; his praise shall continually be in my mouth.  My soul makes its boast in the LORD; let the humble hear and be glad.  Oh, magnify the LORD with me, and let us exalt his name together! (ESV)
What do you praise? Make sure that your life revolves around giving praise to God. He deserves all glory. His grace has saved us from eternal punishment and made a way for our adoption as sons. Praise God!