I have never done anything like this before, and I haven't seen any live streams for this. How does it work? Is it just you making your game or just something else?

There is a live stream, in that live stream it says the theme. You make a game that's about that theme. Did that answer your question?

In addition to what ChessCode said, there's also a second livestream right after the first where we play through every entry to the jam.

I think you managed to make it through but I'll link it just in case.

And next week's jam is up and ready to join too -- it happens every week!

Hyper 1 HOUR Game Jam! TOPIC: ?????? - itch.io