Answer
Refer to the blue graph below.
Work Step by Step
RECALL:
The function $y=f(x)-c$ involves a vertical shift of $c$ units downward of the parent function $f(x)$ when $c \gt 0$.
The given function is in the same format as the equation above, and has $c=1$.
This means that the graph of $y=|x|-1$ involves a vertical shift of $1$ unit downward of the parent function $y=|x|$
Thus, to graph the given function:
(1) Graph the parent function $y=|x|$ .
(Refer to the red graph in the attached image below)
(2) Shift the parent function 1 unit downward.
(Refer to the blue graph in the attached image above.)