This variant contains the PHP CLI tool with default mods. If you need a web server, this is probably not the image you are looking for. It is designed to be used both as a throw away container (mount your source code and start the container to start your app), as well as a base from which to build other images.
It also is the only variant which contains the (not recommended) php-cgi binary, which is likely necessary for some things like PPM.
Note that all variants of %%IMAGE%% contain the PHP CLI (/usr/local/bin/php).