Create a generator function that yields smaller and smaller slices of the given string.
def shrink(s):
    for i in range(len(s)):
        yield s[i:]
Create a function that splits a string into a list of five character segments.
def split_into_five_character_segments(s):
    ret = []
    while len(s) > 5:
        ret.append(s[:5])
        s = s[5:]
    ret.append(s)
    return ret
Combine the two in a list comprehension to generate your fragment library.
sequence = "MSSPPPARSGFYRQEVTKTAWEVRAVYRDLQ"
fragments = [split_into_five_character_segments(s) for s in shrink(sequence)]
Enumerate through each fragment. Use join to combine the pieces of the fragment into a single space-separated string.
for idx, fragment in enumerate(fragments):
    fragment_number = idx + 1
    indent = " " * idx
    print indent + str(fragment_number)
    print indent + " ".join(fragment)
Result:
1
MSSPP PARSG FYRQE VTKTA WEVRA VYRDL Q
 2
 SSPPP ARSGF YRQEV TKTAW EVRAV YRDLQ
  3
  SPPPA RSGFY RQEVT KTAWE VRAVY RDLQ
   4
   PPPAR SGFYR QEVTK TAWEV RAVYR DLQ
    5
    PPARS GFYRQ EVTKT AWEVR AVYRD LQ
     6
     PARSG FYRQE VTKTA WEVRA VYRDL Q
      7
      ARSGF YRQEV TKTAW EVRAV YRDLQ
       8
       RSGFY RQEVT KTAWE VRAVY RDLQ
        9
        SGFYR QEVTK TAWEV RAVYR DLQ
         10
         GFYRQ EVTKT AWEVR AVYRD LQ
          11
          FYRQE VTKTA WEVRA VYRDL Q
           12
           YRQEV TKTAW EVRAV YRDLQ
            13
            RQEVT KTAWE VRAVY RDLQ
             14
             QEVTK TAWEV RAVYR DLQ
              15
              EVTKT AWEVR AVYRD LQ
               16
               VTKTA WEVRA VYRDL Q
                17
                TKTAW EVRAV YRDLQ
                 18
                 KTAWE VRAVY RDLQ
                  19
                  TAWEV RAVYR DLQ
                   20
                   AWEVR AVYRD LQ
                    21
                    WEVRA VYRDL Q
                     22
                     EVRAV YRDLQ
                      23
                      VRAVY RDLQ
                       24
                       RAVYR DLQ
                        25
                        AVYRD LQ
                         26
                         VYRDL Q
                          27
                          YRDLQ
                           28
                           RDLQ
                            29
                            DLQ
                             30
                             LQ
                              31
                              Q