The Erlking holds dominion over the spirits of fallen hunters, the energy of the hunt: excitement, hunger and blood lust. He can call those spirits in the forms of great black hounds, then ride the winds and forests of the Wild Hunt. He carries great power as he does this.
The Erlking is devious, cunning, strong, and swift. He was not an evil being, he was a "force of nature, power and violence without conscience or restraint." Regarding children's deaths, the various tales say he either: preys on children, heralds their deaths, or he's a guardian making sure the souls of children aren't harmed or diverted as they leave their bodies.
Some say he's among the top faerie nobles other say he's equal to the Faerie Queens. He is one of the beings who can call up the Wild Hunt (a gathering of the more predatory beings of Faerie).
That is the technical stuff. His energy can be overwhelming so please be aware of this. He wears power like other people wear underwear. He is not considered evil but he has very bad tenancies sometimes. This is for a portal to him, not a binding.