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For phone? yes. CAT 3 will work but you'll need CAT5 for ethernet. You'll connect from the interface outside your house and then run in-ground cable to cottage. to an interface there. Then more CAT3/5 in the walls to a jack or jacks where the phone(s) get plugged in
For your intertoobs I'd run ethernet from your existing router out. Of course you probably dont have a well done central point with patch panel. switch, etc
And 300' is right at the limit for ethernet. And you need to seperate it from electricity. so sharing a conduit out to cottage wont work.
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