First you should plant it in the ground as soon as posible it needs time to send out feeder roots before the ground completely freezes. I would leave the leaves alone since once it freezes the leaves should be removed just above the surface. I would leave an inch or so of stem when you cut so you will know exactly where the plant is.

Second next year when the leaves come up they should not fry like they did this year. So you can put in the original spot if you wish. I would after you cut the leaf stems off lightly mulch the area around the peony with dried leaves. If you crumble them in your hand before placing they will look like any other mulch. Do not cover the top of the stems just about two inches away from the stems, crown. The mulch will keep the rain/melting snow from removing soil from the area.

Third this type of cross between a regular peony and a tree peony sometimes will come up later than regular peonies so don't worry too much if it does not pop out of the soil when the others in the neighborhood.

Have fun with your new baby. She is a nice one. You might want to check on line or at the library for information on growing peonies of all types.

WOW That was fast advice! Thank you so much. I really splurged on getting her so I want to make sure she stays with me for the long haul! :)