Using FCP 10.6.1 Compound does not show up under File. What's up?

See this arrow? It indicates that there is a submenu.

If you move your cursor over the "New", the submenu opens up:

Tom, I think you meant option+G.

As Tom says, you need to have clips selected in the timeline that you want to compound together.

Thanks. G group.

Ok. So what is your question? You select the clips you want to compound and use the menu item or shortcut to create the compound.

Use New>Compound Clip or press ⌥ C.

It is not quite clear what you mean.

Please explain.

Did you create a compound clip? Do you mean that it is not showing in the browser?

If you have difficulty with the terminology, a screenshot may help clarify what you are talking about.

Show up under File??? Can you post a screenshot?

I saw it in the first screenshot you posted.