To open the User settings:
- Open the command palette (either with F1 or Ctrl+Shift+P)
- Type ">open settings" (You must include the '>' at the beginning)
- You are presented with a few options¹, choose Open User Settings (JSON)
This image was taken in the VS Code online editor

Which, from the manual and depending on platform, is one of:
- Windows
%APPDATA%\Code\User\settings.json² - macOS
$HOME/Library/Application\ Support/Code/User/settings.json - Linux
$HOME/.config/Code/User/settings.json
The Workspace settings will be in a {workspaceName}.code-workspace file where you saved it, and the Folder settings will be in a .vscode folder if and when it has been created.
Official page on User and Workspace Settings
As stated by sevencardz below, VS Code includes a button in the Settings UI gutter which can be used to switch between JSON and graphical view.

The workbench.settings.editor option selects which of the settings files is opened by default when not using the above method, such as with the shortcut ⌘+, or through the application menu.
Footnotes
The aforementioned settings, User and Workspace. Remote settings will appear when using WSL.
By a test this maps to
%APPDATA%\Roaming\Code\User\settings.json, I am not sure by what logic.
Where is settings.json?
The location of the settings.json file
How to share common settings.json file between projects/teammates?
Workspace file vs .vscode files - where do my project settings actually go?
Why have the changes I made via the settings.json file not taken effect?
Any changes you make via the settings.json file only take effect once you have restarted the code editor. So, if there are changes that you have made and have not taken effect, restart the editor and see if that resolves the issue. If that does not work, consider restarting the whole computer altogether.
Why do I get an error saying that VS Code cannot write my settings?
If you’re trying to change a setting but keep getting an error message, there was probably a mistake while editing the settings.json file. For example, you may have mistyped a particular value. To resolve the issue, open the settings.json file again and check for errors marked with red squiggles.
How do I reset all of my settings in VS Code?
The easiest way to reset all your VS Code settings back to the default is by erasing the contents of the user settings.json file except the opening and closing brackets. However, note that this action cannot be reverted, so you must be very careful before proceeding. Once you have erased everything, save the file and restart the editor.
Videos
To open the User settings:
- Open the command palette (either with F1 or Ctrl+Shift+P)
- Type ">open settings" (You must include the '>' at the beginning)
- You are presented with a few options¹, choose Open User Settings (JSON)
This image was taken in the VS Code online editor

Which, from the manual and depending on platform, is one of:
- Windows
%APPDATA%\Code\User\settings.json² - macOS
$HOME/Library/Application\ Support/Code/User/settings.json - Linux
$HOME/.config/Code/User/settings.json
The Workspace settings will be in a {workspaceName}.code-workspace file where you saved it, and the Folder settings will be in a .vscode folder if and when it has been created.
Official page on User and Workspace Settings
As stated by sevencardz below, VS Code includes a button in the Settings UI gutter which can be used to switch between JSON and graphical view.

The workbench.settings.editor option selects which of the settings files is opened by default when not using the above method, such as with the shortcut ⌘+, or through the application menu.
Footnotes
The aforementioned settings, User and Workspace. Remote settings will appear when using WSL.
By a test this maps to
%APPDATA%\Roaming\Code\User\settings.json, I am not sure by what logic.
On the settings UI page, there's a special button in the top right corner gutter that toggles between the settings.json file and the settings UI.

Bonus Answer:
Add "workbench.settings.editor": "json" to your settings.json file. This will make it so that menu File → Preferences → Settings or ⌘ + , opens your settings.json file by default. Optionally, add a comment at the top to remind yourself where the toggle button is.
// Click the Open Settings (UI) button in the top
// right corner gutter to toggle the settings UI
{
// Other settings in settings.json
// ...
"workbench.settings.editor": "json"
}
Hi , I am new to VS Code, doing a python course. The course require to use an extension and change the settings by going and editing the json file. But when I open the settings.json file it is empty. If I click any option in the settings ui, that option is showing in the .json file but default settings are not shown. How do i fix this?