You can invoke Excalidraw in two ways: You can use the evaluation brackets {excalidraw}
to insert an Excalidraw canvas inline in your note. This will be persisted (saved) if you leave the note and return to it.
You can also use Cmd-O to invoke Quick Open, and enter "Excalidraw" to choose the plugin action. This will open an Excalidraw window in the Peek Viewer. Drawings made in Peek Viewer will be kept if you minimize the Peek Viewer window, but will be deleted when you close the Excalidraw Peek Viewer window, so it's a less permanent drawing compared to entering {excalidraw}
Excalidraw images are currently saved in the URL of the iframe. This may cause issues if very large drawings are created. You can always export your drawing to an image within Excalidraw, which has the side benefit that the image will show in a public note.