How to restore information after erasing iphone from find my iphone?

So my phone dropped and cracked the other day, and it hasn't worked very well at all since. The phone completely died yesterday, and I had to restore the phone, so obviously everything was taken off of my phone, and it's on my icloud backup. My only problem, is getting my information back onto my phone. So when I go to icloud.com and look at find my iphone it says there's an option to erase iphone. What happens if I do that and is there a way to get all of my apps, contacts, pictures, and other information back and onto my phone again? Please help me because I'm totally lost and worried it's all lost. Thank you so much in advance!

Added (1). I have an iPhone 4s by the way, in case that helps at all.

You can do one of three things. Set up as new iPhone. You probably don't want to do that. Or restore from iTunes backup. Not sure when the last time you did an iTunes backup. Or restore from iCloud backup. Probably what you want to do. It will take the last iCloud backup you hand and wipe over the phone and put that information back. There's one catch. ICloud storage only holds 5gb worth of stuff in the free account which you have. If you had more than 5gb of stuff on the phone odds are that will not come back with the iCloud backup. So you might have put over some apps and other stuff from iTunes that didn't have enough room in iCloud storage. See the links. Best luck.
http://support.apple.com/.../kb/ht1766

http://www.ilounge.com/index.php/articles/comments/restoring-from-an-previous-icloud-backup/

http://ipod.about.com/od/iphonetroubleshooting/ss/restore-iphone.htm