Set in the Fable Universe, the player plays as one of 12 characters from across the 4 Fable Games and are presented in a Hero Doll Form which are a recognisable item from the series. In the game the player journeys through Albion and fights against familiar foes and new enemies to collect coins that are used to unlock new items and characters in Fable Heroes as well as Fable: The Journey, there are also boss fights in the game as well as smaller enemies which are fought in groups. Familiar enemies from the series include Chesty, Hobbes, Beetles and Hollow Men. There are also items in the levels, hidden within chests, that grant the player temporary abilities such as Slow Time, there are also items that give the player temporary disguises, like a Hobbe Costume, that hide the player from the relevant enemies so that they don't attack the player.
Source: Wikipedia, "Fable Heroes", available under the CC-BY-SA License.