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A 556 IC is a dual 555 IC in one 14pin chip. With that said it composed of two timers capable of running in Astable, Bistable and Monostable modes. The 556 can be used as a function generator once the appropriate external components are connected.

One note about using the 556/555 as a function generator is that you cannot achieve a perfect 50/50% duty cycle where the time on is equal to the time off, this is due the characteristics of the internal components having a different charge/discharge rates.

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Q: What is a 556 function generator IC?
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