I'm an electric guitar noob, I have a Virgin VG1 and a Peavy Vypyr VIP 1 amp.

I don't quite know where to start, I've learnt basic riffs like back in black, smoke on the water, james bond etc.

But that's not how you understand music, that's just reproducing a song.

Could someone literally give me something to do, specifically, so I can learn electric guitar and also understand what I'm doing.

Thank you.
I would go to justinguitar.com and he has a music theory e - book which explains lots and lots to get started. Also he has lessons on chords, scales, arpeggios and lots more. I would suggest that.
For the first couple of months just learn riffs and songs, having all knowledge of scales and whatnot is worthless if you don't know how they're applied in a song, go out and learn your favourite songs and full songs, not just the main riff, to start with learn the pentatonic scale, after a few months then look further into it but for now learn full songs
"Music Without Emotion Is Like Food Without Flavour"
Paul Gilbert
What do you want to play at any given time that should be the only rule to follow.

Cover songs? Your own stuff?

Learn some chords, arrange them into songs and record them. Learn a scale or 2. Play lead over them or write lyrics, sing etc.

There are no rules just follow your creative soul on what you want to do at the point you are with your guitar playing.