Hi - There are a number of thing that you can do with the python SDK. We have some examples on our developer site: http://dev.splunk.com
You can check out our example applications here: http://dev.splunk.com/view/SP-CAAADQ8
There is a great dashboard example using Leftronic for a custom UI on top of data in Splunk - http://dev.splunk.com/view/SP-CAAADSR
Also, you can check out our live demos site: http://demos.splunk.com for some more ideas. Essentially you can "do all the things" 🙂
Finally, we have a number of code samples and examples here to get you going: http://dev.splunk.com/view/python-sdk/SP-CAAAEBB
Also, I don't think that's an easy-to-answer question. Look at http://docs.splunk.com/Documentation/PythonSDK and come up with specific problems that you encountered.