I think it may depend on the version of Visual Studio 2010 you have.
If you need a sequence diagram: right-click anywhere in the method definition, and then click Create Sequence Diagram. I am sure that this is only Ultimate. MSDN docs: http://msdn.microsoft.com/en-us/library/ee317485.aspx
If you are talking about what happens with a function call, you can select the function name and right-click and then click on the call hierarchy to display all the functions that call it or call it. You can also generate a sequence diagram using the function name.
You can also create a class diagram. Either right-click on the solution / project diagram / etc-> or go to "Architecture" - "Create a dependency graph" - "Class diagram" to create a class dependency diagram for an open solution, then you can click the down arrow in the class to View how the functions in this class interact.
m4tt1mus
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