Earlier quoted context omitted.
Well, this is Haskell we're talking about. Between the name, type signature and the fact that most functions are pure (so, no side-effects to describe), it's often obvious what they do.
Like ( ) :: Monoid m => m -> m -> m (^?) :: s -> Getting (First a) s a -> Maybe a As a Haskell beginner I didn't find it to be a particularly self-documenting language. Between the use of custom operators and point-free style you can write a lot of code without naming anything to give a hint about what you're doing.
But let's take a swing at it. We start with something of type (s). At the very end, we're left with something of type (Maybe a). Since we know nothing about the types (s) or (a), we need something to relate these to each other if the function is going to produce a (Maybe a) for us (unless it just always gives us Nothing).
There's a lot going on in that second argument, but we can clearly see that it's some type parameterized by (s) and (a), so it provides that connection. It "tells us how to get an (a) out of an (s) in a way that might fail" - which intuition is additionally helped along by the fact that the type so parameterized is called Getting.
There's a little more going on, and for that you'll need to dive into the (extensive) documentation for lens. One thing that is not going on is any side effects though. The operator section (^? foo) will take some (s) and turn it into some (Maybe a) based only on the information contained in that (s) and foo.