I will put "Creating a discord.py bot" as the Repository name.
You can either select public or private depending on if you want people to see it but I prefer to keep my main projects accessible to the public so I will keep the repo Public.
You can select the README file if you want a description of your project but you can make that in the IDE yourself. I prefer to select the .gitignore now and the license.
I added the .gitignore template as Python and the license as MIT as it's non-restrictive.
Step 4) You should end up with something like this, press Create repository
Step 5) On pressing Create repository, you should end up with a screen like so:
Personally, I wouldn't develop Python programs in any other IDE other than PyCharm because it's the most helpful and clean looking. You might choose to use VS code or sublime(Not recommended for a large project)