The eraser tool is a particularly intuitive tool. Click on the eraser icon and then click on an area on the canvas and while holding the mouse button down, start dragging the cursor around the canvas. You will quickly see why they call it the eraser tool, it erases.
Like many of the tools we have discussed so far, the eraser has many options which you can select to modify how the tool works. And as usual, you can find the options in the Options Palette.
The first option to try out is the eraser type menu. You can choose Paint brush, air brush, pencil or block. These options affect how the eraser erases. The effects are just as the tools named except in reverse.
Note that when in paint brush mode you have the wet edges checkbox as you would expect for paint brushing
You also have the opacity slide to modify how much of the canvas to erase and the fade tool which you should be familiar with as well as an erase image button which will erase the currently selected item on the canvas completely.