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The classic use of this type of filter is to convert white noise, which is equal energy per hertz, to pink noise, which is equal energy per proportional or constant-percentage (e.g., logarithmic) band.
Such energy displays as flat on any log scale graph when bundled (integrated) appropriately.
The Pinking cell takes any input signal and outputs a signal with a 3dB drop per octave in linear terms.
After you have established your default algorithm, this cell can have algorithms added to it. If you're using more than one DSP board, you will need to add the initial algorithm for the desired board. In either case, right-click the cell and select Add Algorithm > IC N > Pink Noise Filter to add another set of input/output pins.