Footer tab holds options which are all about configuring your footer part of website, such as: widgets area, colors, footer text. Also this is where you can add your google analytics code.
To edit Footer settings navigate to Theme Options -> Footer page at your Dashboard.
Footer widget area
You can have one widget area in footer with 1-4 columns. You can choose between how many columns you want by selecting number from « columns number for footer widget area » drop down. Columns will be stretched to cover the full width of footer area. I.E.: If you have a single widget it will be stretched to the full footer width, if you got 2 widgets, each of them will cover a 50% of a footer width.
You can disable the whole row of widgets in footer by switching off « Enable footer widget area » option.
Image below shows you example of footer widget area with 4 columns.
At the image below you can see Footer colums sidebars in Appearance->Widgets. This is where you need to place your widgets in order to see them in footer widget area.
You can setup your footer text (copyrights, disclamer, etc.), which is going to be shown on the left side of the footer.
You can add your Google Analytics code here.
Sign up for free at http://www.google.com/analytics/. After setting up your account you will be given a tracking code.
Footer colors options
This options allows you to choose colors for footer elements.
The image below shows what element control each color option from the image on the left.