The ringing after the edge of the squarewave is interpreted by its magnitude, dampening and frequency.
Suppressing the initial squarewave overshoot magnitude is effectively lowering the magnitude of a resonance peak on a spectrum plot (eg. a flat frequency spectrum out past the audio band that then decides to rise up to a single peak at say a 100kHz resonance). That peak is likely impacting the gain margin of the feedback loop, so bringing the peak magnitude down towards a 'flat' response is a typical aim of say the compensation capacitor across a feedback resistor.
The rate at which the ringing waveform damps itself to nothing relates to the effective Q of the L, C and R parts that cause the resonance. That aspect is typically not able to be managed by external circuit compensation parts.
The frequency of the ringing is typically easy to determine if there is just one single dominant peak in the response. Frequency is the reciprocal of cycle duration on the scope waveform. So a simple 100kHz resonance would exhibit a ringing waveform where you could identify each single cycle of the waveform having a span of 10 microsecond (100,000 Hz = 1/0.00001 sec). Perhaps best to try and eyeball the number of scope x-axis divisions that make up single up-and-down dampening sinewave portions, and then repeat for further along the ringing waveform to confirm the same number of divisions - then identify your scope timebase for x-axis divisions - so a 100kHz sinewave that spans 1 major division on the x-axis would occur for a 10us/div timebase setting. Some transient ringing waveforms damp down very quickly, making it quite difficult to identify a single full cycle of a waveform from which to 'measure' the time duration. Similarly, some transient waveforms are a blend of multiple resonant frequencies, making it similar difficult to discern the lowest frequency in a messy waveform. And some responses just have a low level of undulations from which not much can be deduced except that there is no obvious ringing aspect - which is good!
A typical analog or digital scope would display the x-axis in a linear format of say 10us/div, which for a display screen that had 5 major divisions to the left of the centre-line, and 5 major divisions to the right, would provide a full screen width of 10 major divisions, such that 10x10us=100us. In that case, a 10kHz squarewave would show up as one 'cycle' across the full width of the graduated screen (ie. the horizontal shift could be used to position a transition at the full left side, the middle, and again at the full right side).
If you were lucky enough to have a spectrum analyser or Bode style plotting scope and software (eg. a few of us now have a Picoscope and FRA4 software to do this, and to show off the frequency spectrum response) then the squarewave ringing frequency calculation should align with a frequency spectrum peak, and the peaks magnitude should rise and fall with changing say compensation capacitor value.