Learn about ther itertools module, one of the most useful and elegant modules in the standard library (http://docs.python.org/lib/module-itertools.html):
import itertools as it
colors = ["#ff0000", "#00FF00", "#0000FF"]
words = "Itertools is a pretty neat module".split()
for word_color in it.izip(word, it.cycle(colors)):
print "<font color=%s>%s</font>" % word_color
George
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