About the website logo
Usually, in both free and premium themes, I’ve found that if you don’t use an image for your logo, the words – or more precisely, the name you give to your website – will display automatically. A really handy feature.
You can set the font choice, colour, and size of text used for your logo in the theme settings. However, if you wanted something different you could add some CSS code in the Tools > Custom CSS box.
So incredibly flexible.