Is there a way you can restore an iPhone to the settings of another iPhone?

Like if you have an iPhone and someone else who lives in your house like in your family has an iPhone too, can you restore it to the settings of their phone, so you have all of their music, photos, etc. On YOUR phone? Or is this not possible yet?

Yes, you just have to create an iCloud back up of the other persons iPhone, reset your own and back up using the same account used in the other phone