Thank you so much! I got it to work and I am back to good El Capitan and THRILLED!
I realized I had two big confusion points - first, was understanding that the OS Extended Journal piece was a format selection, not part of the name. Thank you for that clarification! That helped a ton!
But then my second mistake was I didn't realize I needed to rename and select the format 'at the same time' I was erasing the disk. So I ended up erasing the disk without renaming it or selecting the format - or even noticing those fields, I guess. Once I realized my mistake, I went back to the disk and repeated the process correctly - renamed the disk Macintosh HD and selected the OS Extended Journal format and then selected Erase. I must have been completely missing or not paying attention to that area originally since I didn't know I had to do it all at same time as erasing. Once I saw it - the OS Extended Journal was right there on the format drop down list! And then it all went smoothly after that!
I have never been so happy and relieved all at once! I thought at one point I'd turned my laptop into a brick by erasing the disk wrong. Thank you, thank you, thank you! And also to KeithAnsel! You guys saved my butt! =)