It looks like the model on Hugging Face either hasn't been published yet or was withdrawn. I got this error in their Colab notebook:
OSError: DeepFloyd/IF-I-IF-v1.0 is not a local folder and is not a valid model identifier listed on
'https://huggingface.co/models'
If this is a private repository, make sure to pass a token having permission to this repo with `use_auth_token` or
log in with `huggingface-cli login` and pass `use_auth_token=True`.
OSError: DeepFloyd/IF-I-IF-v1.0 is not a local folder and is not a valid model identifier listed on 'https://huggingface.co/models' If this is a private repository, make sure to pass a token having permission to this repo with `use_auth_token` or log in with `huggingface-cli login` and pass `use_auth_token=True`.