You can receive a phone call in Python using Flask and Twilio by setting up a development server, creating an ngrok tunnel to make the local server accessible over the Internet, defining a webhook to answer the phone call with a custom message, and configuring a Twilio phone number to forward incoming calls to the endpoint. The process involves installing the required packages, setting up a Flask application, creating an ngrok tunnel, answering the phone call with a message, and testing the setup by calling the Twilio phone number.