diff --git a/py-polars/docs/source/reference/config.rst b/py-polars/docs/source/reference/config.rst
index edc606a31e60..c190bfde5d3d 100644
--- a/py-polars/docs/source/reference/config.rst
+++ b/py-polars/docs/source/reference/config.rst
@@ -83,11 +83,37 @@ explicitly calling one or more of the available "set\_" methods on it...
 Use as a decorator
 ------------------
 
-In the same vein, you can also use ``Config`` as a function decorator to
-temporarily set options for the duration of the function call:
+In the same vein, you can also use a ``Config`` instance as a function decorator
+to temporarily set options for the duration of the function call:
 
 .. code-block:: python
 
-    @pl.Config(set_ascii_tables=True)
-    def write_ascii_frame_to_stdout(df: pl.DataFrame) -> None:
+    cfg_ascii_frames = pl.Config(ascii_tables=True, apply_on_context_enter=True)
+
+    @cfg_ascii_frames
+    def write_markdown_frame_to_stdout(df: pl.DataFrame) -> None:
         sys.stdout.write(str(df))
+
+Multiple Config instances
+-------------------------
+You may want to establish related bundles of `Config` options for use in different
+parts of your code. Usually options are set immediately on `Config` init, meaning
+the `Config` instance cannot be reused; however, you can defer this so that options
+are only invoked when entering context scope (which includes function entry if used
+as a decorator)._
+
+This allows you to create multiple *reusable* `Config` instances in one place, update
+and modify them centrally, and apply them as needed throughout your codebase.
+
+.. code-block:: python
+
+    cfg_verbose = pl.Config(verbose=True, apply_on_context_enter=True)
+    cfg_markdown = pl.Config(tbl_formatting="MARKDOWN", apply_on_context_enter=True)
+
+    @cfg_markdown
+    def write_markdown_frame_to_stdout(df: pl.DataFrame) -> None:
+        sys.stdout.write(str(df))
+
+    @cfg_verbose
+    def do_various_things():
+        ...
diff --git a/py-polars/polars/api.py b/py-polars/polars/api.py
index 11a61b63e570..1ee2c5165930 100644
--- a/py-polars/polars/api.py
+++ b/py-polars/polars/api.py
@@ -76,9 +76,9 @@ def register_expr_namespace(name: str) -> Callable[[type[NS]], type[NS]]:
 
     See Also
     --------
-    register_dataframe_namespace: Register functionality on a DataFrame.
-    register_lazyframe_namespace: Register functionality on a LazyFrame.
-    register_series_namespace: Register functionality on a Series.
+    register_dataframe_namespace : Register functionality on a DataFrame.
+    register_lazyframe_namespace : Register functionality on a LazyFrame.
+    register_series_namespace : Register functionality on a Series.
 
     Examples
     --------
@@ -129,9 +129,9 @@ def register_dataframe_namespace(name: str) -> Callable[[type[NS]], type[NS]]:
 
     See Also
     --------
-    register_expr_namespace: Register functionality on an Expr.
-    register_lazyframe_namespace: Register functionality on a LazyFrame.
-    register_series_namespace: Register functionality on a Series.
+    register_expr_namespace : Register functionality on an Expr.
+    register_lazyframe_namespace : Register functionality on a LazyFrame.
+    register_series_namespace : Register functionality on a Series.
 
     Examples
     --------
@@ -227,9 +227,9 @@ def register_lazyframe_namespace(name: str) -> Callable[[type[NS]], type[NS]]:
 
     See Also
     --------
-    register_expr_namespace: Register functionality on an Expr.
-    register_dataframe_namespace: Register functionality on a DataFrame.
-    register_series_namespace: Register functionality on a Series.
+    register_expr_namespace : Register functionality on an Expr.
+    register_dataframe_namespace : Register functionality on a DataFrame.
+    register_series_namespace : Register functionality on a Series.
 
     Examples
     --------
@@ -328,9 +328,9 @@ def register_series_namespace(name: str) -> Callable[[type[NS]], type[NS]]:
 
     See Also
     --------
-    register_expr_namespace: Register functionality on an Expr.
-    register_dataframe_namespace: Register functionality on a DataFrame.
-    register_lazyframe_namespace: Register functionality on a LazyFrame.
+    register_expr_namespace : Register functionality on an Expr.
+    register_dataframe_namespace : Register functionality on a DataFrame.
+    register_lazyframe_namespace : Register functionality on a LazyFrame.
 
     Examples
     --------
diff --git a/py-polars/polars/config.py b/py-polars/polars/config.py
index dc5060c4e4c3..fd31a1e425d6 100644
--- a/py-polars/polars/config.py
+++ b/py-polars/polars/config.py
@@ -171,10 +171,15 @@ class Config(contextlib.ContextDecorator):
     ...     pass
     """
 
+    _context_options: ConfigParameters | None = None
     _original_state: str = ""
 
     def __init__(
-        self, *, restore_defaults: bool = False, **options: Unpack[ConfigParameters]
+        self,
+        *,
+        restore_defaults: bool = False,
+        apply_on_context_enter: bool = False,
+        **options: Unpack[ConfigParameters],
     ) -> None:
         """
         Initialise a Config object instance for context manager usage.
@@ -187,12 +192,19 @@ def __init__(
         restore_defaults
             set all options to their default values (this is applied before
             setting any other options).
+        apply_on_context_enter
+            defer applying the options until a context is entered. This allows you
+            to create multiple `Config` instances with different options, and then
+            reuse them independently as context managers or function decorators
+            with specific bundles of parameters.
         **options
             keyword args that will set the option; equivalent to calling the
             named "set_<option>" method with the given value.
 
         Examples
         --------
+        Customise Polars table formatting while in context scope:
+
         >>> df = pl.DataFrame({"abc": [1.0, 2.5, 5.0], "xyz": [True, False, True]})
         >>> with pl.Config(
         ...     # these options will be set for scope duration
@@ -208,24 +220,51 @@ def __init__(
         | 1.0 | true  |
         | 2.5 | false |
         | 5.0 | true  |
+
+        Establish several independent Config instances for use in different contexts;
+        setting `apply_on_context_enter=True` defers setting the parameters until a
+        context (or function, when used as a decorator) is actually entered:
+
+        >>> cfg_polars_verbose = pl.Config(
+        ...     verbose=True,
+        ...     apply_on_context_enter=True,
+        ... )
+        >>> cfg_polars_detailed_tables = pl.Config(
+        ...     tbl_rows=25,
+        ...     tbl_cols=25,
+        ...     tbl_width_chars=200,
+        ...     apply_on_context_enter=True,
+        ... )
+
+        These Config instances can now be applied independently and re-used:
+
+        >>> @cfg_polars_verbose
+        ... def traced_function(df: pl.DataFrame) -> pl.DataFrame:
+        ...     return polars_operations(df)
+
+        >>> @cfg_polars_detailed_tables
+        ... def print_detailed_frames(*frames: pl.DataFrame) -> None:
+        ...     for df in frames:
+        ...         print(df)
         """
         # save original state _before_ any changes are made
         self._original_state = self.save()
-
         if restore_defaults:
             self.restore_defaults()
 
-        for opt, value in options.items():
-            if not hasattr(self, opt) and not opt.startswith("set_"):
-                opt = f"set_{opt}"
-            if not hasattr(self, opt):
-                msg = f"`Config` has no option {opt!r}"
-                raise AttributeError(msg)
-            getattr(self, opt)(value)
+        if apply_on_context_enter:
+            # defer setting options; apply only on entering a new context
+            self._context_options = options
+        else:
+            # apply the given options immediately
+            self._set_config_params(**options)
+            self._context_options = None
 
     def __enter__(self) -> Self:
-        """Support setting temporary Config options that are reset on scope exit."""
+        """Support setting Config options that are reset on scope exit."""
         self._original_state = self._original_state or self.save()
+        if self._context_options:
+            self._set_config_params(**self._context_options)
         return self
 
     def __exit__(
@@ -238,6 +277,25 @@ def __exit__(
         self.restore_defaults().load(self._original_state)
         self._original_state = ""
 
+    def __eq__(self, other: object) -> bool:
+        if not isinstance(other, Config):
+            return False
+        return (self._original_state == other._original_state) and (
+            self._context_options == other._context_options
+        )
+
+    def __ne__(self, other: object) -> bool:
+        return not self.__eq__(other)
+
+    def _set_config_params(self, **options: Unpack[ConfigParameters]) -> None:
+        for opt, value in options.items():
+            if not hasattr(self, opt) and not opt.startswith("set_"):
+                opt = f"set_{opt}"
+            if not hasattr(self, opt):
+                msg = f"`Config` has no option {opt!r}"
+                raise AttributeError(msg)
+            getattr(self, opt)(value)
+
     @classmethod
     def load(cls, cfg: str) -> Config:
         """
@@ -251,7 +309,7 @@ def load(cls, cfg: str) -> Config:
         See Also
         --------
         load_from_file : Load (and set) Config options from a JSON file.
-        save: Save the current set of Config options as a JSON string or file.
+        save : Save the current set of Config options as a JSON string or file.
         """
         try:
             options = json.loads(cfg)
@@ -285,7 +343,7 @@ def load_from_file(cls, file: Path | str) -> Config:
         See Also
         --------
         load : Load (and set) Config options from a JSON string.
-        save: Save the current set of Config options as a JSON string or file.
+        save : Save the current set of Config options as a JSON string or file.
         """
         try:
             options = Path(normalize_filepath(file)).read_text()
@@ -389,7 +447,7 @@ def state(
         cls, *, if_set: bool = False, env_only: bool = False
     ) -> dict[str, str | None]:
         """
-        Show the current state of all Config variables as a dict.
+        Show the current state of all Config variables in the environment as a dict.
 
         Parameters
         ----------
@@ -422,7 +480,11 @@ def set_ascii_tables(cls, active: bool | None = True) -> type[Config]:
         """
         Use ASCII characters to display table outlines.
 
-        Set False to revert to the default UTF8_FULL_CONDENSED formatting style.
+        Set False to revert to the standard UTF8_FULL_CONDENSED formatting style.
+
+        See Also
+        --------
+        set_tbl_formatting : Set the table formatting style (includes Markdown option).
 
         Examples
         --------
@@ -969,7 +1031,7 @@ def set_tbl_column_data_type_inline(
         cls, active: bool | None = True
     ) -> type[Config]:
         """
-        Moves the data type inline with the column name (to the right, in parentheses).
+        Display the data type next to the column name (to the right, in parentheses).
 
         Examples
         --------
@@ -1151,11 +1213,11 @@ def set_tbl_hide_column_names(cls, active: bool | None = True) -> type[Config]:
     @classmethod
     def set_tbl_hide_dtype_separator(cls, active: bool | None = True) -> type[Config]:
         """
-        Hide the '---' separator between the column names and column types.
+        Hide the '---' separator displayed between the column names and column types.
 
         See Also
         --------
-        set_tbl_column_data_type_inline
+        set_tbl_column_data_type_inline : Display the data type inline with the colname.
 
         Examples
         --------
diff --git a/py-polars/polars/dataframe/frame.py b/py-polars/polars/dataframe/frame.py
index 5c09409d4b4e..c0dedb35bda0 100644
--- a/py-polars/polars/dataframe/frame.py
+++ b/py-polars/polars/dataframe/frame.py
@@ -1525,7 +1525,7 @@ def item(self, row: int | None = None, column: int | str | None = None) -> Any:
 
         See Also
         --------
-        row: Get the values of a single row, either by index or by predicate.
+        row : Get the values of a single row, either by index or by predicate.
 
         Notes
         -----
diff --git a/py-polars/tests/unit/test_config.py b/py-polars/tests/unit/test_config.py
index dcbadf4d4c15..9535f11b3825 100644
--- a/py-polars/tests/unit/test_config.py
+++ b/py-polars/tests/unit/test_config.py
@@ -724,6 +724,94 @@ def test_config_load_save_context() -> None:
     assert os.environ["POLARS_VERBOSE"]
 
 
+def test_config_instances() -> None:
+    # establish two config instances that defer setting their options
+    cfg_markdown = pl.Config(
+        tbl_formatting="MARKDOWN",
+        apply_on_context_enter=True,
+    )
+    cfg_compact = pl.Config(
+        tbl_rows=4,
+        tbl_cols=4,
+        tbl_column_data_type_inline=True,
+        apply_on_context_enter=True,
+    )
+
+    # check instance (in)equality
+    assert cfg_markdown != cfg_compact
+    assert cfg_markdown == pl.Config(
+        tbl_formatting="MARKDOWN", apply_on_context_enter=True
+    )
+
+    # confirm that the options have not been applied yet
+    assert os.environ.get("POLARS_FMT_TABLE_FORMATTING") is None
+
+    # confirm that the deferred options are applied when the instance context
+    # is entered into, and that they can be re-used without leaking state
+    @cfg_markdown
+    def fn1() -> str | None:
+        return os.environ.get("POLARS_FMT_TABLE_FORMATTING")
+
+    assert fn1() == "MARKDOWN"
+    assert os.environ.get("POLARS_FMT_TABLE_FORMATTING") is None
+
+    with cfg_markdown:  # can re-use instance as decorator and context
+        assert os.environ.get("POLARS_FMT_TABLE_FORMATTING") == "MARKDOWN"
+    assert os.environ.get("POLARS_FMT_TABLE_FORMATTING") is None
+
+    @cfg_markdown
+    def fn2() -> str | None:
+        return os.environ.get("POLARS_FMT_TABLE_FORMATTING")
+
+    assert fn2() == "MARKDOWN"
+    assert os.environ.get("POLARS_FMT_TABLE_FORMATTING") is None
+
+    df = pl.DataFrame({f"c{idx}": [idx] * 10 for idx in range(10)})
+
+    @cfg_compact
+    def fn3(df: pl.DataFrame) -> str:
+        return repr(df)
+
+    # reuse config instance and confirm state does not leak between invocations
+    for _ in range(3):
+        assert (
+            fn3(df)
+            == dedent("""
+            shape: (10, 10)
+            ┌──────────┬──────────┬───┬──────────┬──────────┐
+            │ c0 (i64) ┆ c1 (i64) ┆ … ┆ c8 (i64) ┆ c9 (i64) │
+            ╞══════════╪══════════╪═══╪══════════╪══════════╡
+            │ 0        ┆ 1        ┆ … ┆ 8        ┆ 9        │
+            │ 0        ┆ 1        ┆ … ┆ 8        ┆ 9        │
+            │ …        ┆ …        ┆ … ┆ …        ┆ …        │
+            │ 0        ┆ 1        ┆ … ┆ 8        ┆ 9        │
+            │ 0        ┆ 1        ┆ … ┆ 8        ┆ 9        │
+            └──────────┴──────────┴───┴──────────┴──────────┘""").lstrip()
+        )
+
+        assert (
+            repr(df)
+            == dedent("""
+            shape: (10, 10)
+            ┌─────┬─────┬─────┬─────┬───┬─────┬─────┬─────┬─────┐
+            │ c0  ┆ c1  ┆ c2  ┆ c3  ┆ … ┆ c6  ┆ c7  ┆ c8  ┆ c9  │
+            │ --- ┆ --- ┆ --- ┆ --- ┆   ┆ --- ┆ --- ┆ --- ┆ --- │
+            │ i64 ┆ i64 ┆ i64 ┆ i64 ┆   ┆ i64 ┆ i64 ┆ i64 ┆ i64 │
+            ╞═════╪═════╪═════╪═════╪═══╪═════╪═════╪═════╪═════╡
+            │ 0   ┆ 1   ┆ 2   ┆ 3   ┆ … ┆ 6   ┆ 7   ┆ 8   ┆ 9   │
+            │ 0   ┆ 1   ┆ 2   ┆ 3   ┆ … ┆ 6   ┆ 7   ┆ 8   ┆ 9   │
+            │ 0   ┆ 1   ┆ 2   ┆ 3   ┆ … ┆ 6   ┆ 7   ┆ 8   ┆ 9   │
+            │ 0   ┆ 1   ┆ 2   ┆ 3   ┆ … ┆ 6   ┆ 7   ┆ 8   ┆ 9   │
+            │ 0   ┆ 1   ┆ 2   ┆ 3   ┆ … ┆ 6   ┆ 7   ┆ 8   ┆ 9   │
+            │ 0   ┆ 1   ┆ 2   ┆ 3   ┆ … ┆ 6   ┆ 7   ┆ 8   ┆ 9   │
+            │ 0   ┆ 1   ┆ 2   ┆ 3   ┆ … ┆ 6   ┆ 7   ┆ 8   ┆ 9   │
+            │ 0   ┆ 1   ┆ 2   ┆ 3   ┆ … ┆ 6   ┆ 7   ┆ 8   ┆ 9   │
+            │ 0   ┆ 1   ┆ 2   ┆ 3   ┆ … ┆ 6   ┆ 7   ┆ 8   ┆ 9   │
+            │ 0   ┆ 1   ┆ 2   ┆ 3   ┆ … ┆ 6   ┆ 7   ┆ 8   ┆ 9   │
+            └─────┴─────┴─────┴─────┴───┴─────┴─────┴─────┴─────┘""").lstrip()
+        )
+
+
 def test_config_scope() -> None:
     pl.Config.set_verbose(False)
     pl.Config.set_tbl_cols(8)