VsCode is unable to create the ionic project because it is a code editor.So you can create your ionic project by CLI or cmd. create your project by below command
$ ionic start appName blank
Above command use to create blank template ionic application. Ionic2 provide three type of templates blank, tabs and sidemenu. So. you may replace blank template by any other two templates as per your need.
Now, your Ionic project has been created. So, you are able to add your project in VSCode to edit. To add your project follow below points.
You may directly open the folder by using shortcut key ctrl+O or ctrl+k
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