Reading here, there apparently used to be a RenderedWebElement class with a hover method. It, however, was exclusively made for Java (I have searched the Python bindings documentation to no avail) and has since been deprecated for Java.
A hover can't be performed using action_chains nor by using a WebElement object either. 
Any ideas as to how to do this for Python? I have been here but it uses RenderedWebElement and hence doesn't help too much.
I am using: Python 2.7, Windows Vista, Selenium 2, Python Bindings
EDIT: There is a method mouse_over for a selenium.selenium.selenium object but I cannot figure a way to create an instance without having the stand-alone server running already.
EDIT Please go through the comments of the reply marked as answer just in-case you have misconceptions like I did !
 
     
     
    