Combination Switch with an receptacle outlet also known as combo switch is a great way to easily add an outlet to anywhere that there is a switch already installed. I have seen these used in prewired sheds that come with only lighting installed. They can be used any place that you need an outlet and still be able to control a light or other devices such as other outlet receptacles. If you want to replace a switch with a switch and outlet receptacle combination this is what you do. On one side of the combination switch/plug you have two brass screws and if you look closely you will see that there is a little bridge between them, this is where the hot wire (black) from the power will go. On the other side there is a brass screw and a silver screw. On the brass screw above the silver screw connect the switch leg (black wire) that goes to the light fixture, on the silver screw connect the neutral (white wire). You must hook up the white wire to make the receptacle outlet work and don't forget a neutral white wire and a ground wire must also connect to the light fixture, you may have to make an electrical pigtail. Connect ground to the green screw.
The first picture is a front view shows the wire routing to connect the combo switch. The second and third picture shows where the wires would actually connect.
Combination Switch Front View Wiring Combo Switch Neutral Ground Switch Leg Wiring Combo Switch Hot Wire Side The wires coming in from the bottom would be from your homes power source. The wires going up would be the switch leg going to the light or other device you want controlled by the switch. Notice that the white wire and the ground wire may require that you make a pigtail connection to continue them on to the controlled device. You can see how to make a pigtail on the Pigtail Wiring page. Note: The white wire is the neutral wire, the black wire is the hot leg and the green wire is ground. Be sure to turn off the power before you begin.