We have three so-called "Choice" field types:
If you prefer video, here's a quick video demo for all of them.
Now, separately about each one.
If you choose a field types Radio or Select, you should enter all different values in key-value pairs. One of them goes to the database value, another one is shown visually on the page, as a label. Also, you may specify Default value.
The possible options with key-value pairs are saved in the Model, as constant array:
So if you want to add more options or customize them, you need to edit those arrays.
In the database, those values are saved as varchar type, not as enum. That's why it's flexible to change in the model, without doing any manipulations in the database.
For the Checkbox field type, you can select whether it's checked by default:
If we add all three fields shown above, here's how it will look in our panel: