[Tutor] What is this an example of (and how can i use it?)

[kevin parks]

I am afraid that in the long layoff in python has meant some new  
constructs have passed me by. In googling around I found some nice  
little code I want to use, but i don't quite understand it, how it is  
called, and what it is an example of. I guess there are generators and  
iterators now and it seems this might be an example of one of those  
new constructs. Can anyone explain what it is i am looking at, how it  
is called, and what it is an example of so that I can look it up:

def roundrobin(*iterables):
    "roundrobin('ABC', 'D', 'EF') --> A D E B F C"
    # Recipe credited to George Sakkis
    pending = len(iterables)
    nexts = cycle(iter(it).next for it in iterables)
    while pending:
        try:
            for next in nexts:
                yield next()
        except StopIteration:
            pending -= 1
            nexts = cycle(islice(nexts, pending))
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