The r means that the string is to be treated as a raw string, which means all escape codes will be ignored.
For an example:
'\n' will be treated as a newline character, while r'\n' will be treated as the characters \ followed by n.
When an 'r' or 'R' prefix is present,
  a character following a backslash is
  included in the string without change,
  and all backslashes are left in the
  string. For example, the string
  literal r"\n" consists of two
  characters: a backslash and a
  lowercase 'n'. String quotes can be
  escaped with a backslash, but the
  backslash remains in the string; for
  example, r"\"" is a valid string
  literal consisting of two characters:
  a backslash and a double quote; r"\"
  is not a valid string literal (even a
  raw string cannot end in an odd number
  of backslashes). Specifically, a raw
  string cannot end in a single
  backslash (since the backslash would
  escape the following quote character).
  Note also that a single backslash
  followed by a newline is interpreted
  as those two characters as part of the
  string, not as a line continuation.
Source: Python string literals