Python - like C #, Java, Perl, Ruby, Lua, and many other languages - uses garbage collection rather than manual memory management. You simply arbitrarily create objects and the language memory manager periodically (or when you specifically direct it) searches for any objects that no longer reference your program.
So, if you want to hold an object, just keep a link to it. If you want the object to be freed up (eventually), remove any references to it.
def foo(names):
for name in names:
print name
foo(["Eric", "Ernie", "Bert"])
foo(["Guthtrie", "Eddie", "Al"])
foo Python list, . foo names, - , , .