D&C 1:16

They seek not the Lord to establish his righteousness, but every man walketh in his own way, and after the image of his own god, whose image is in the likeness of the world, and whose substance is that of an idol, which waxeth old and shall perish in Babylon, even Babylon the great, which shall fall. D&C 1:16

We need not bow down to deities of wood or stone to be guilty of idolatry. Idolatry is a sin that takes place when individuals trust themselves and devote their lives to anything other than the true and living God. In our modern age, idolatry can take the form of inappropriate hero worship, entail the inordinate quest for popularity, or be manifest in the acquisition of financial portfolios and real estate – in general, being possessed by possessions. People who can worship cattle or crocodiles or cedar posts are entitled to all of the blessings such gods can confer here and hereafter. The only way, however, to obtain peace here and eternal life in the world to come is to know and worship the God of all creation, that Holy Being the knowledge of whom brings eternal life. (Robert L. Millet and Lloyd D. Newell. Draw Near Unto Me: Daily Reflections on the Doctrine and Covenants. 7)