This is the 35th most frequent Russian word.
она
"Она" means "she" or "her" in English.
In this sentence, "она" functions as the pronoun "she," referring to a female subject who is performing the action of walking.
Она гуляет в парке.
She is walking in the park.
Here, "она" is the subject of the clause, emphasizing the person being referred to as correct or right in the stated opinion.
Я думаю, что она права.
I think that she is right.
In this case, "она" is used as a pronoun agreeing in gender with the noun "тыква" (pumpkin), which is feminine in Russian. It acts as a placeholder for the previously mentioned object.