PaintMe

The name you choose for your project as you work on it (in this case, PaintPot). This will also be the name of the application if you package it for the phone.
The name "Screen1", which is the name of the Screen component. You'll see it listed in the Components panel in the Designer. You can't change the name of the Screen component in the current version of App Inventor.
The Title property of the screen, which is what you'll see in the phone's title bar. Title is a property of the Screen component. The Title starts out being "Screen1", which is what you used in HelloPurr. However, you can change it, as you're doing for PaintPot. To reiterate, the name and the title of Screen1 are initially the same, but you can change the title if you want.
Drag a Button component onto the Viewer and change the button's Text attribute to "Red" and make its BackgroundColor red.
Click on Button1 in the components list in the Viewer to highlight it (it might already be highlighted) and use the Rename... button to change its name from "Button1" to "ButtonRed".
Similarly, make two more buttons for blue and green, named "ButtonBlue" and "ButtonGreen", placing them vertically under the red button.
Here's how this should look in the designer, with the button names appearing in the list of project components. In this project, you're changing the names of the components rather than leaving them as the default names as you did with HelloPurr. Using meaningful names makes your projects more readable to yourself and others.