Final answer:
The colon should be placed after 'Teasdale' to introduce the quotation from Sara Teasdale's poem 'Stars'.
Step-by-step explanation:
The correct placement of the colon in the sentence 'When I look at the night sky, I am reminded of the lines from a poem called "Stars" by Sara Teasdale "And I know that I am honored to be witness of so much majesty"' is right after the word 'Teasdale' and before the quotation starts.
To demonstrate how the colon is used, here is the corrected version of the sentence: 'When I look at the night sky, I am reminded of the lines from a poem called "Stars" by Sara Teasdale: "And I know that I am honored to be witness of so much majesty."'
Colons are often used to introduce a list, a quote, or an explanation. In this case, the colon introduces the quotation from the poem.