methods: Is it possible to connect vscode (on a local machine) with Google Colab (the free service) runtime?

The current accepted answer didn't work for me. What worked for me was running the following in google collab:

import random, string
password = ''.join(random.choice(string.ascii_letters + string.digits) for i in range(64))
# install pyngrok for opening a tunnel
!pip install pyngrok -q
#Setup sshd
! apt-get install -qq -o=Dpkg::Use-Pty=0 openssh-server