It is a very common phrase used to indicate that something is intended for someone else.
Here are some examples of how it can be used:
* "Este regalo es para ti." (This gift is for you.)
* "Tengo una sorpresa para ti." (I have a surprise for you.)
* "Hice esto para ti." (I did this for you.)
Note: The "ti" in "para ti" is the object pronoun for "you" in the informal singular form. So, it is used when speaking to someone you know well.