http://www.tutoriallounge.com/2013/03/learn-how-to-draw-compass-in-illustrator-tutorial/

Imagine that you are a pirate. Go around the world with your ship to hunt treasure trove. Of course you will need a compass. To fulfill your imagination, in this tutorial we will draw a compass using Adobe Illustrator. You can use it as icon or an illustration with an image of old map for background.