Encomium is a Latin word deriving from the Classical Greek ???????? (encomion) meaning the praise of a person or thing. Related to this general meaning, "encomium" also identifies several distinct aspects of rhetoric:
A genre of literature that included five elements: prologue, birth and upbringing, acts of the person's life, comparisons used to praise the subject, and an epilogue.
Famous encomia
Gorgias's Encomium of Helen is one of the most famous historical encomia. In it, Gorgias offers several justifications for excusing Helen of Troy's adultery -- notably, that she was persuaded by speech, which is a "powerful lord" or "powerful drug" depending on the translation.
A kind of encomium is used by the Christian writer Paul in his praise of love in 1 Corinthians 13. The prologue is verses 1-3, acts are v. 4-7, comparison is v. 8-12, and epilogue is 13:13-14:1. (From David E. Garland, Baker Exegetical Commentary, 1 Corinthians, 606, based on the work of Sigountos.)
In Erasmus's Praise of Folly, Folly composes an encomium to herself. It is an ironic encomium because being praised by Folly is backwards praise; therefore, Folly praising herself is an ironic conundrum.