Let me have a string object a="ABC". Now I want to create a different object b="ABC" having both id(a) and id(b) separate. Is it possible in python?
This is an implementation detail. If two variables refer to the same object (a is b is true) then they have to be equal (a == b shall be true). But at least for immutable objects, Python does not specify what it does.
The standard CPython implementation uses common ids for small integers:
a = 1
b = 1
a is b # True
The rationale is that they are likely to be used in many places in the same program, and sharing a common variable saves some memory.
It is done too for strings, when the interpreter can easily guess that they will share the same value. Example on a Python 3.6
a = "abc"
b = 'ab' + 'c'
c = ''.join(chr(i) for i in range(97, 100))
a is b # gives True
a is c # gives False
TL/DR: whether two equal strings share same id is an implementation detail and should not be relied on.