This has been announced elsewhere but it shouldn't hurt to mention it here to get on some Python Planets, etc.
If you would like to be a mentor on a Python-related project for Google's Summer of Code this year, here is what you need to do RIGHT AWAY:
If you can't mentor but still have some project ideas, feel free to just join the mailing list for discussion.
The original post was in the categories: python summer_of_code but I'm still in the process of migrating categories over.