what version of Ubuntu can I install on a Lenovo IdeaPad Yoga 11" machine?
And can I run it with windows installed on Windows 8 RT garbage that is previously on this machine
Welcome to AskUbuntu!
I believe you should be able to install basically any version without any problems especially the newer (12.x +) as the Lenovo Yoga is a relatively new machine.
Check here: https://help.ubuntu.com/. They have guides that can give you the needed specs to run the seperate versions of Ubuntu, which you can compare to your computer's specs.
I agree with RPi awesomeness, you should basically be fine with any of the latest versions. Be careful though, I think there still isn't a wireless driver available.