The usual scheme
In most British and North American Wiccan material: north is earth, east is air, south is fire, west is water. Some traditions add a fifth point at the centre for spirit.
Where it came from
Assigning elements to directions comes to Wicca through Renaissance and modern ceremonial magic, notably the Hermetic Order of the Golden Dawn, and behind that from the Greek four-element scheme. It is not documented ancient Celtic practice.
Traditions vary, and so do hemispheres
Southern-hemisphere practitioners frequently swap fire and earth so that fire sits towards the equator. Others match directions to their actual landscape: water towards the estuary, fire towards the afternoon sun. None of this is wrong, and arguing about it is a hobby rather than a doctrine.
Why acknowledge them at all
Calling the quarters brings four broad qualities consciously into a working: steadiness, thought, will and feeling. It also gives a ritual a recognisable shape, and gives your attention four clear places to go.
Wording without theatre
Facing each direction in turn: 'East, air, and clear thinking: be here.' Then south, west, north. At the end, thank each in reverse order. If declaiming to a wall feels absurd, say it internally, or simply turn and pause. The pause is doing most of the work.