In Python, how to change text after it's printed?

Question

I have a Python program I am writing and I want it to be able to change text after it is printed. For example, let\'s say I want to print \"hello\" and erase one letter eve

Answer 1

Here's something that seems to work well:

import time

text = '\rgood-bye'
for i in xrange(len(text), 0, -1):
    print text[0:i],
    time.sleep(1)
print ' '