Watch the Adding Effects online guitar lesson by Jennifer Batten from Rock Sauce for Rhythm Guitar
I love audio effects. I find they can really enhance your musical thoughts and become vital to your compositions. I've had many tunes come about from being inspired by a single effect. These days you can find multiple effects processors for a very reasonable price that have just about everything under the sun. You need to spend a little time with each effect to feel how it responds to your playing. It's also good to learn what the parameters of each effect do to alter the sound. It's important to not abuse effects. Make sure they don't obliterate what you're trying to go for instead of enhance it.