For my particular camera, there is no set function labeled "timelapse" However, there is a setting that enables frame by frame continuos shooting. The particular camera I used for this is a Canon Powershot Elph 330 HS. This should work on most point and shoot cameras made within the past few years.
Step 1: Find "Miniature Effect"
I looked through every menu on my camera to try to find this. I eventually found it in the shooting settings, which for me enables when I hit the center "select" button on the D-pad. Once you have this setting enabled, hit the RECORD button, not the shutter button, and you will see that the camera records frame by frame. You will get a slight blur on the top and bottom of the display. Don't worry though, as this is adjustable.
Step 2: Find a High Point to Place Your Camera
I have a high shelf in my workshop so I chose to perch my camera there to take a timelapse of myself working. Corners are the best places to put a camera, because the camera can see 3 out of 4 corners of a room. It's worth mentioning that the higher the point that you place the camera is, the better the view will be.
Step 3: Record!
You're ready to record a timelapse! Get creative! If this helped you, I would love to see your timelapses! Feel free to message me with where I can find them.