The blessing is three-fold and can be worded in many ways. That the child should be blessed with...
- Ma'asim Tovim
Torah represents Jewish learning. The chuppah symbolizes a good marriage. Ma'asim tovim means good deeds; in other words, to grow up to be a mensch.
You can see and hear this blessing in many places, from birth announcements to bar mitzvah celebrations. It's always an appropriate blessing to give new parents, if you're not sure what else to say! (But it certainly sounds more natural written than when you say it out loud.)