My, the children deserve praise for it! (8)

I believe the answer is:

goodness

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'my' is the definition.
(I've seen this before)

I cannot understand how the rest of the clue works.

(Other definitions for goodness that I've seen before include "Boy" , "merit" , "Quality of being morally good or virtuous" , "Exclamation of surprise" , "Morality, generosity, kindness" .)

I've seen this clue in the Evening Standard.

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