In Python, a variable is a named location in memory that stores a value. It can hold different types of data such as numbers, strings, lists, tuples, or even complex objects.

To create a variable in Python, you need to assign a value to it using the equal sign (=). For example, you can create a variable called x and assign it the value of 5 as follows:

In this case, Python creates a new variable called x and assigns it the value of 5. You can then use this variable in your program to perform various operations. For example, you can print the value of x using the print() function as follows:

This will output the value of x, which is 5, to the output section of the code cell.

You can also update the value of a variable at any time by assigning a new value to it. For example, you can update the value of x to 10 as follows:

In this case, Python updates the value of x to 10 and stores it in the same memory location previously allocated for x.