Cholesterol is a major component of biomembranes that impacts membrane order, permeability, and lateral organization, but the precise molecular mechanisms of cholesterol's actions are still under investigation. Density functional theory (DFT) calculations have opened the fingerprint vibration bands of large molecules to detailed spectral analysis. For cholesterol, Raman spectral interpretation for conformational structure and hydrogen bonding is now possible. Here, DFT calculations of cholesterol conformers identify 10 structure types that also have unique low-frequency Raman spectra. By fitting experimental spectra to these types, the distribution of cholesterol structures present in phospholipid (PL) membrane vesicles was measured. The distributions reveal that the cholesterol iso-octyl chain tends to align with saturated PL chains and shifts to a thermal distribution for unsaturated PL chains. The results agree with the templating effect of cholesterol on PL membranes and show that the top of the iso-octyl chain is rigid like the rings. It is also shown that the inclusion of water molecules hydrogen bonded to the cholesterol hydroxy group in the DFT calculations may improve the spectral fitting for future studies.