Peavey Electric guitar Owner's Manual page 27

Balance Control & Push-Pull or Push-Push Coil Tap
To create a specific tone, some instruments feature a balance control that determines the mix of pickup
signals being sent to the amplifier. In the center (detented) position, both pickups send the same
volume. Turning the knob counterclockwise selects more bridge pickup signal, while turning it clockwise
sends more neck pickup signal.
When engaged, this switch, usually located on a Volume Control or Tone Control, allows one coil from
a dual pickup to be turned off, effectively cutting the output in half. Note that as the humbucker is now
functioning as a single coil, it will exhibit more hum or noise.
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