You don’t need to do anything special. Just create a directory, put your game in it, and run. Doesn’t matter where the directory is, and you don’t need to edit panda’s config file.
By default, the panda model-path will contain the directory of your main program. So for instance, let’s say you do this:
c:> python c:\devel\mygame\mygame.py
In that case, the model path will contain c:\devel\mygame, because that’s where your main program is. So then, let’s say you put your models in c:\devel\mygame\models. In that case, you would need to type:
loader.loadModel(“models/mymodel.egg”)
to load the model.