Stack colander (on the bottom), block of tofu, plate, weight. Every once in a while, give a little extra pressure. It works best if it's on a slant.
When I'm lazy, I pour the water off from the package, let the tofu sit in the plastic box under the plastic top film with a weight (like a 28 oz. can of tomatoes) on top, and pour off the liquid until it seems to be done. Same process, really.

I just put it between two plates and weigh it down with a heavy can or glass of water. Drain it after a few minutes and let it sit for about 30 mins....

place between 2-3 sheets of kitchen towel & place a baking tin over it. Place some cans of soup or beans over & allow the water to seep into the towels for about 1/2 hr