Our Solar System is part of the Milky Way galaxy. The Milky Way is a spiral galaxy with arms which extend from the center. Each of these arms, which spread out like a pin wheel, has a name. The name of the arm in which our Solar System resides, is the Orion arm. There are about 100 billion stars in the Milky Way, of which our Sun and the Solar System are but one. Each of the other Sun's sit at the centre of their own Solar System, many with their own set of planets and moons.
The Solar System is made up of many objects. These include planets, dwarf planets, moons, the Sun, asteroids and comets. Most of these objects orbit the Sun the the same counter-clockwise direction.
The Solar System was formed 4.5 billion years ago, when a large cloud of gas and dust condensed to form the Sun and all of the other objects we see today. In the beginning, there were many more objects in the Solar System, but over long periods of time, gravity brought these objects together to form the planets and moons that we see today.
In 5 billion years time, our Sun will reach the end of it's life, initially expanding to become a red giant star, before throwing off it's outer layers to become a white dwarf star. During these phases, the Sun will swell in size to swallow the inner terrestrial planets (including the Earth), and the Solar System will no longer exist as we see it today.