Even if you try to regularly thank your team for a job well done, people still enjoy a few minutes of solely hearing praise. In this exercise, you can learn more about how team members view themselves in contrast to how their fellow teammates view them. It's all positivity--no calling out weaknesses--making it fun for all involved.
As Stuart Smalley would say, "I'm good enough, I'm smart enough, and doggone it, people like me!" Since most of us don't get out of bed each morning repeating this phrase, let your teammates remind you with this activity.