A string literal whose value automatically changes with the code surrounding it sounds like a really bad idea.
I also noticed that the PEP uses str.format method as a strawman, ignoring the fact that % string interpolation is very popular and does not need replacing, which is at the core of this problem in the first place; Someone keeps trying to replace something that does not need replacing.
Furthermore, I can't help but think that this would eventually become a complete literal string DSL (if not one already) inside of Python.
I hope this PEP does not get accepted.