Using bifurcation method and numerical simulation approach of dynamical systems, we study a two-component Fornberg-Whitham equation. Two types of bounded traveling wave solutions are found, that is, the kink-like wave and compacton-like wave solutions. The planar graphs of these solutions are simulated by using software Mathematica; meanwhile, two new phenomena are revealed; that is, the periodic wave solution can become the kink-like wave or compacton-like wave solution under some conditions, respectively. Exact implicit or parameter expressions of these solutions are given.