I will praise
halal  (haw-lal')
to be clear (orig. of sound, but usually of color); to shine; hence, to make a show, to boast; and thus to be (clamorously) foolish; to rave; causatively, to celebrate; also to stultify
the name
shem  (shame)
an appellation, as a mark or memorial of individuality; by implication honor, authority, character -- + base, (in-)fame(-ous), named(-d), renown, report.
of God
'elohiym  (el-o-heem')
angels, exceeding, God (gods)(-dess, -ly), (very) great, judges, mighty.
with a song
shiyr  (sheer)
a song; abstractly, singing -- musical(-ick), sing(-er, -ing), song.
and will magnify
gadal  (gaw-dal')
advance, boast, bring up, exceed, excellent, be(-come, do, give, make, wax), great(-er, come to...estate, + things), grow(up),increase, lift up, magnify(-ifical), be much set by, nourish (up), pass, promote, proudly (spoken), tower.
him with thanksgiving
towdah  (to-daw')
an extension of the hand, i.e. (by implication) avowal, or (usually) adoration; specifically, a choir of worshippers


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