There are many parking providers on the web you can use for parking you domain name. You can even park your domain name with GoDaddy but they charge $4.99/mo for the privilege so if your domain is not getting that much traffic you will end up loosing money.
To try your hand in domain parking you should use some parking provider that don’t charge for it. I would recommend Sedo as it is free and domain parking is very easy to set up.
To park your domains with Sedo, you need to change your domain name servers in your GoDaddy domain manager to Sedo's parking servers:
In domain managers under Nameserver dropdown menu choose Set Nameserver.
Sedo's DNS settings for parking are:
Choose ‘I have specific nameservers for my domains.’
Copy and paste ns1 and ns2 as you can see on the image below and click OK.
It usually takes 5-10 minutes the change to take effect but might take hours as well.
Once you have set the name servers then you have to list your domain with Sedo
Log in to your Sedo account and under My Sedo drop down menu click Add Domains
Enter your domain name and click next
Choose not for sale and click next ( if you selling your domain then enter your desired prices as needed )
Now you have to wait till Sedo verifies that you are the owner of the domain name and once that is done and the name server change has taken effect then your domain is parked successfully.
To make sure that it is parked successfully click the Optimise button next to the domain and Recheck Status.
Also, by clicking on your domain name you can check your traffic info and you can also modify the look of your parking page and add suitable keywords and meta description to your domain which would help search engines to find it better.
Here is an example how Sedo parking page would look like: 1auto.co.uk