Paul continues to draw out the implications of having put off the old self and having put on the new self (9-10). In v. 8 he commands us to put off Christ-less attitudes and now in vv. 12ff he commands us to put on a certain kind of heart which results in the ability to forgive one another (13). The overarching banner of the new person is that we must put on love which flows from the heart-felt peace which Christ has produced and which is characterized by a God-centered thankfulness (15). In v. 16 Paul commands us to let the word of Christ be our heart's treasure, which is nurtured and displayed through glad worship. Finally, Paul gives us the general command to do everything in the name of Christ with thanksgiving to God the Father through Him.
Ἐνδύσασθε οὖν, ὡς ἐκλεκτοὶ τοῦ θεοῦ ἅγιοι καὶ ἠγαπημένοι, σπλάγχνα οἰκτιρμοῦ χρηστότητα ταπεινοφροσύνην πραΰτητα μακροθυμίαν,
Therefore (since you have already put on the new man when you were united to Christ who fills every individual in His mult-ethnic, mult-class body and are thereby able to reflect Him who is the image of God) put on then, as God’s chosen ones, holy and beloved, compassionate hearts, kindness, humility, meekness, and patience,
(flowing out of these attitudes of the heart is that you are to) bear with one another
καὶ χαριζόμενοι ἑαυτοῖς
and, if one has a complaint against another,
ἐάν τις πρός τινα ἔχῃ μομφήν•
forgiving each other;
καθὼς καὶ ὁ κύριος ἐχαρίσατο ὑμῖν,
as the Lord has forgiven you,
οὕτως καὶ ὑμεῖς•
so you also must forgive.
ἐπὶ πᾶσιν δὲ τούτοις τὴν ἀγάπην,
And above all these put on love,
ὅ ἐστιν σύνδεσμος τῆς τελειότητος.
( because love) binds (these virtues) together in perfect harmony.
καὶ ἡ εἰρήνη τοῦ Χριστοῦ βραβευέτω ἐν ταῖς καρδίαις ὑμῶν,
And let the peace of Christ rule in your hearts,
εἰς ἣν καὶ ἐκλήθητε ἐν ἑνὶ σώματι•
( because ) you were called in one body unto this peace
καὶ εὐχάριστοι γίνεσθε.
And be thankful.
Ὁ λόγος τοῦ Χριστοῦ ἐνοικείτω ἐν ὑμῖν πλουσίως,
Let the word of Christ dwell in you richly,
ἐν πάσῃ σοφίᾳ διδάσκοντες καὶ νουθετοῦντες ἑαυτούς,
teaching and admonishing one another in all wisdom,
ψαλμοῖς ὕμνοις ᾠδαῖς πνευματικαῖς ἐν [τῇ] χάριτι ᾄδοντες ἐν ταῖς καρδίαις ὑμῶν τῷ θεῷ•
singing psalms and hymns and spiritual songs, with thankfulness in your hearts to God.
καὶ πᾶν ὅ τι ἐὰν ποιῆτε ἐν λόγῳ ἢ ἐν ἔργῳ, πάντα ἐν ὀνόματι κυρίου Ἰησοῦ,
And whatever you do, in word or deed, do everything in the name of the Lord Jesus,
εὐχαριστοῦντες τῷ θεῷ πατρὶ διʼ αὐτοῦ.
(the manner in which you do this is) giving thanks to God the Father through him.