>>> x = 'it is icy'.replace('i', '', 1)
>>> x
't is icy'
Since your code would only replace the first instance, I assumed that's what you wanted. If you want to replace them all, leave off the 1
argument.
Since you cannot replace the character in the string itself, you have to reassign it back to the variable. (Essentially, you have to update the reference instead of modifying the string.)