Data Structures and Algorithms with Object-Oriented Design Patterns in Python (brpreiss.com)

Wish they made the source code downloadable... It would be helpful for students who want to step through the code and actually see what is going on. http://algowiki.com offers some code, but it isn't all necessarily in Python.

The title sounds randomly generated.

http://shootout.alioth.debian.org/ has implementation of algorithms in all programming languages.