You can set settings by importing the pylibelf package and directly overriding the settings of the settings object. You can also replace the settings object with your own object. The Settings class contains all the default settings.
Here is an example:
import pylibelf
from pylibelf import elf
elf.settings.sanestr = True # don't pretty print by default
elf.settings.mask = elf.PrettifyMask(classes=(libelf.Section,)) # don't show sections by default when pretty printing