The writer continues his thought that blessed are people who put their trust in the God and not human leaders to guide how we should live our lives. These verses are describing the God who created all things.
The phrase "God of Jacob" recalls Israel's early history before it became an established nation. This God we meet through Israel's Old Testament history is the same God who provided our salvation through His Son Jesus Christ. This is the good news of the Gospel message. We can be perfectly forgiven of our sins, so we may now have a relationship with God as being perfectly forgiven creatures based on what He did for us, not on what we have done for Him.
He is further described in verse 6.  Which made heaven, and earth, the sea, and all that therein is: which keepeth truth for ever. This verse reminds us of His omnipotence, that is, He is all powerful. No other god matches His power. Why mention the fact that God created everything? The answer is if we can't think of anything about our own lives to praise God for, we can always praise Him for the world in which we live. After all, His awesome creation reveals His mighty acts and gives us reason to praise Him.
Verse 6 ends with the reminder that God is faithful forever. Why end on that point? It does not mean the world, as we know it goes on forever. It means that God is faithful to keep His truth to us forever. What truth is that? That by trusting in His payment for all our sins, past present and future, we are saved.
In context to creation, it includes His promise that no worldwide flood would ever happen again. God's love for us does not change nor do His desires toward us. He does and will always desire man's obedience toward His truth. This obedience is to be based on our gratitude to Him and not our need to please Him by our effort.