The textmedia-CE is the standard content element in TYPO3. It combines a headline, body text, and any number of images, the position of which is controlled via the imageorient is controlled via the field.
Live Example

Standard-textmedia-CE with an FAL reference in the assetsfield. The current T3Bootstrap layout renders the image and text in a single column, one below the other (regardless of imageorient when there is only one image).
For 2-column layouts (image next to text), the standard CE is used with imagecols=2 or the container element t3bs_media (Media Object, see next page).