Recommended settings
Squashed-Town Funk
To get a really snappy clean funk sound, run a single-coil pickup into your compressor. Set your attack time to a longer setting so that the initial power of your pick doesn’t get compressed. Then, apply a liberal amount of compression to the rest of the signal. Try not to boost the output too high to avoid pushing your amp into overdrive
Impressor Boost
You can use your compressor as a boost for different sections of the set simply by tweaking a few settings. In this case, you don’t really need to apply a lot of actual compression to your dry guitar signal. Keep the squash to a minimum, but punch up the output. This will give you a few extra dBs of gain to stomp on when you need it
Sustain Improver
If you want more sustain for solos, but don’t want to add more gain, use a compressor. Set your attack to a longer time to avoid squashing your notes. With your picking intact, ramp up the compression to increase the sustain on the tail of your note. Set your output to either match your uncompressed tone, or add a little extra for a boost