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If you live in a place with mild winters - growing zone 10-12 or higher - you should be able to plant the poinsettia directly in the ground, where it will grow as a perennial and get larger with each passing year. If you're in a place where the temperature dips to freezing temperatures during the winter, you're better off keeping it in the pot as a houseplant. Poinsettia are native to Mexico, and they need a warm climate to thrive. If you bought the poinsettia during the winter as a decoration, keep the plant in the pot until spring, even if you live in a place with mild winters. If it came in foil remove the wrapper so water can drain from the pot. It needs to stay potted until the weather gets warm enough to transplant it. Water it whenever the soil starts to dry out.  At the beginning of spring, in March or April, cut the poinsettia back to about 8 inches. This will encourage it to begin a new growing cycle and get it ready for transplanting. Keep it watered and fertilize it once a month or so until early summer, when it's time for transplanting. Look for a place where the poinsettia will get morning sun as well as light or partial shade during the heat of the afternoon. Till the soil and loosen it to a depth of 12 to 16 inches (30 to 40 cm). Enrich the soil by adding organic compost if necessary. Poinsettias prefer rich, well-drained soil. Dig a hole as wide as the poinsettia's root ball and plant the poinsettia. Pat soil gently around the base of the stem. Mulch the area around the base of the plant with 2 to 3 inches (5 to 7 cm) of organic mulch. This keeps the soil cool and helps it retain moisture. You can apply a 12-12-12 or 20-20-20 compound at the start of the growing season or fertilize the plant with compost. If your soil is not very rich, you may need to fertilize the plants once a month. Water the plant at the base whenever the soil around the plant feels dry to the touch. Avoid overhead watering, which could cause fungal disease to form on the leaves of the plant. Pinch small growing shoots from poinsettias occasionally throughout the growing season to encourage the plants to flower. You can discard the shoots or use them to propagate new plants. Cut back old growth in late fall or early winter to encourage strong new growth the following spring. You can take 8 inch (20 cm) cuttings from the soft growing tips of poinsettia stems or 18 inch (45 cm) cuttings from the woody stems of the plant to create new poinsettia.  Dip the ends of each cutting into a rooting hormone, then insert it into a pot filled with potting soil or a vermiculite mix. Keep the soil in the pot moist, but not wet, for several weeks while the cuttings make roots. Add fresh mulch around the base of the plant to keep the soil warm for the winter months. Poinsettia can winter over in areas where soil temperatures do not fall below 45 degrees Fahrenheit (7 Celsius). Dig the plants up and bring them indoors if you live in a climate where winters are cold and soil temperatures fall below 45 degrees Fahrenheit (7 Celsius).

Summary:
Decide whether the climate is right. Care for the poinsettia until spring. Prepare a planting spot. Plant the poinsettia. Fertilize the poinsettia. Water the poinsettia throughout the growing season. Prune the poinsettia. Propagate poinsettia cuttings. Overwinter the poinsettia.