If you have access to dumbbell set, then you will be able to perform quite a few good dumbbell exercises for developing and toning the shoulder muscles. Dumbbell exercises are very important for the shoulders. Most of these exercises listed below can only be performed with dumbbells or on an appropriate machine as they involve moving your arms away from your body as opposed to most muscle group exercises where your arms are kept together like Bicep Curls or the Bench Press.

These exercises work best with an adjustable dumbbell set such as the Bowflex SelectTech 552 Dumbbell set where you have access to all the different weight increments. If you have just a few dumbbells at home, some of the exercises may have limited use if the weights you have are too heavy or too light for them.

Lateral Raises. Take a dumbbell in each hand and while keeping your arms straight, raise them from your sides so that they are straight in the air with your body making a T-shape. Slowly return your arm back to the starting position at your sides and repeat for 10-15 reps.

Front Raises. This exercise is much like lateral raises except you raise your arms directly in front of you as opposed to the side. There are two ways to do this exercise. You can either raise both arms at the same time with each dumbbell or raise one arm first then raise the other arm as you drop the second back to its starting position. Each time you do this the weights will cross each other in front of your body. While I prefer using this method there are two things about it which you must watch out for. First, if you have bulky weights, watch that they don't collide as they cross each other in front of you. Secondly, pay attention to your good form as doing Front Raises in this way can lead to sloppiness if you're not careful.

Lying Side Laterals. This exercise is excellent for isolating the back of the shoulder muscles. You should really feel a burn the first time you do this despite it being a fairly light weight exercise. Take a lighter dumbbell and lie across a bench or another flat, elevated surface. Lie on one side and grab the weight with your top arm. Raise the weight from the floor until your arm is pointed upward and repeat for 10-15 reps. Once you are finished with one shoulder, lie on your other side and complete the set with the next shoulder.

Dumbbell Presses. In a seated position, take one dumbbell in each hand and raise your arma until the weights are just to each side of your forehead with your palms facing forward and your elbows bent. Raise the weights until your arms are almost straight and lower them back down. Don't lock your elbows on the way up. Repeat for 10 reps. I am less of a fan of Dumbbell Presses than the other dumbbell shoulder exercises as I believe that barbells or a machine are much superior pieces of equipment to perform shoulder presses.

Dumbbell Shrugs. Take a heavy dumbbell in each hand, stand up straight and shrug your shoulders upwards while holding the weights. Repeat for about 15 reps. This exercise will be great for your traps and neck muscles. You should be able to do a very heavy weight for this exercise as it's an easy move to do and you don't physically exert yourself too much.

If you are interested in purchasing workout equipment for your home gym, Amazon has some great products available.

If you are interested in more dumbbell exercises refer to:

Dumbbell Exercises for the Arm Muscles
Dumbbell Exercises for the Chest

My workout routines:

How to build big Biceps
How to build big Triceps
How to build big Forearms
How to build big Shoulders
How to build a big Chest
How to build a big Back
How to build big Legs
How to build big Calves

More of my workout advice:

Are Bowflex SelectTech Adjustable Dumbbells suitable for you?
Should you buy Bowflex SelectTech Dumbbells in a store or online?
Why you would want to use barbells for your workouts
Why you would want to use dumbbells for your workouts
How I lost over 40 pounds in 6 months with some simple diet changes
Upper body exercises with no equipment needed
Lower body exercises with no equipment needed
Cardio exercises with no equipment needed
The Different Ways of Doing Dumbbell Bicep Curls
Inflatable Exercise Ball Exercises for Men