This Psalm encourages us to bless and praise God (Psalm 34:1); to literally brag about God (Psalm 34:2); to magnify God / make others to understand and appreciate God (Psalm 34:3). We should all have "God stories" - testimonies about God's work in our lives (Psalm 34:4-6). We are here to encourage others to "taste and see" God's goodness (Psalm 34:8-11).
It is in the spirit of this Psalm that Peter begins his thoughts in the second chapter of the book of I Peter. See I Peter 2:1-3. Various translations tell us to taste and see that the Lord is good/gracious; or that we should taste and see the kindness of the Lord. Let's take some time to taste some of the goodness of the Lord and see what that should produce in our lives. As we learn about God from Scripture, God Himself will guide us and develop us into the image of His Son (Isaiah 54:13; John 6:45; II Corinthians 3:18; Romans 8:28-29; 12:2; Matthew 11:28-30; Ephesians 4:20-24; II Peter 1:2-4; 3:18).
1. The Blessed God - I Peter 1:3
2. The Holy God - I Peter 1:15-16
3. The Glorious God - I Peter 4:14; 5:11
4. The Mighty God - I Peter 5:6
5. The Gracious God - I Peter 5:10 cp. 2:1-3 (KJV / NKJV)
The Blessed God - I Peter 1:3
The Greek expression "Blessed be God" or "Blessed is God" means that God should be praised or commended. See II Corinthians 1:3; Ephesians 1:3. The Greek expression "the blessed God (I Timothy 1:11 cp. 6:15) infers that God is happy / joyous. We are often reminded of God's anger and wrath against rebellious sinners. Yet, at the same time, God is a happy God. He has a continual joy, which can be seen in the scenes that are depicted around His throne (Revelation chapters 4-5). God does not have mood swings. He can be solemn, severe, and at the same time, be joyful. His judgement against evil does not destroy His joy. His joy does not cloud His judgement against evil. His joy comes from His own contentment within His Holy, Triune being. God's joy of loving us is uninterrupted (Zephaniah 3:17 cp. "… the joy of the LORD is your strength." Nehemiah 8:10b).
We, therefore, should learn joy from God and contentment with God. See I John 1:1-4; Philippians 4:4-13 (cp. I Timothy 6:6); John 13:17; 15:10-11 (cp. I John 5:3); 16:33. We also should bless Him, by doing those things that please Him. See Colossians 1:9-11; 3:20; I Thessalonians 2:4; 4:1; II Timothy 2:4; Hebrews 11:5-6; 13:15-16; I John 3:22 cp. Matthew 5:3-12.