Deconstruction is one (controversial) literary theory amongst many: Russian Formalism, Structuralism, Marxism, Feminism, Jungian, Freudian, Reception Theory, ... . Actually, Deconstruction is more a way of reading than a theory of literature, and it aims to show how texts deconstruct or contradict themselves. Instead of showing how everything fits together in a hierarchical structure, as other approaches tend to do, deconstruction tries to show how texts unravel themselves, particularly showing how the privileged item in a binary pair can be reversed and subverted. Marxists and Feminists may argue that Deconstruction lacks serious political commitment
The first one is the correct way to use it, since it separates the parts of the sentence into fragments that can still be understood without changing the meaning of the entire sentence.
