TOASTING GUIDE CNN offers a fun piece with do's and don't for champagne toasts. The piece is timed for New Year's Eve, but the tips apply to any occasion. Among the recommendations:

One thing to keep in mind, if you are planning to toast a guest of honor at a party, it is proper to wait until after the host has had the opportunity to do so. If you think the host has no intention of making one, then request to make one yourself. When the time comes, get the room's attention by simply asking everyone in the room for a moment of their time. You may want to avoid gently tapping on a glass with a spoon -- you don't want to break it!