La puesta en marcha...

Intenté configurar una instalación limpia de Mac os X 10.6 para desarrollar python / django y no recordaba haberme encontrado con esto en 10.5.

Después de instalar MySQL desde el instalador enmysql-5.5.8-osx10.6-x86_64.dmg corrí

$ sudo pip install MySQL-python

y parecía ir sin problemas (salida a continuación)

Downloading/unpacking MySQL-python
  Downloading MySQL-python-1.2.3.tar.gz (70Kb): 70Kb downloaded
  Running setup.py egg_info for package MySQL-python
    warning: no files found matching 'MANIFEST'
    warning: no files found matching 'ChangeLog'
    warning: no files found matching 'GPL'
Installing collected packages: MySQL-python
  Running setup.py install for MySQL-python
    building '_mysql' extension
    gcc-4.2 -fno-strict-aliasing -fno-common -dynamic -DNDEBUG -g -fwrapv -Os -Wall -Wstrict-prototypes -DENABLE_DTRACE -pipe -Dversion_info=(1,2,3,'final',0) -D__version__=1.2.3 -I/usr/local/mysql/include -I/System/Library/Frameworks/Python.framework/Versions/2.6/include/python2.6 -c _mysql.c -o build/temp.macosx-10.6-universal-2.6/_mysql.o -Os -g -fno-common -fno-strict-aliasing -arch x86_64
    In file included from _mysql.c:36:
    /usr/local/mysql/include/my_config.h:325:1: warning: "SIZEOF_SIZE_T" redefined
    In file included from /System/Library/Frameworks/Python.framework/Versions/2.6/include/python2.6/Python.h:9,
                     from pymemcompat.h:10,
                     from _mysql.c:29:
    /System/Library/Frameworks/Python.framework/Versions/2.6/include/python2.6/pymacconfig.h:33:1: warning: this is the location of the previous definition
    In file included from _mysql.c:36:
    /usr/local/mysql/include/my_config.h:419:1: warning: "HAVE_WCSCOLL" redefined
    In file included from /System/Library/Frameworks/Python.framework/Versions/2.6/include/python2.6/Python.h:8,
                     from pymemcompat.h:10,
                     from _mysql.c:29:
    /System/Library/Frameworks/Python.framework/Versions/2.6/include/python2.6/pyconfig.h:803:1: warning: this is the location of the previous definition
    gcc-4.2 -Wl,-F. -bundle -undefined dynamic_lookup build/temp.macosx-10.6-universal-2.6/_mysql.o -L/usr/local/mysql/lib -lmysqlclient_r -lpthread -o build/lib.macosx-10.6-universal-2.6/_mysql.so -arch x86_64
    warning: no files found matching 'MANIFEST'
    warning: no files found matching 'ChangeLog'
    warning: no files found matching 'GPL'
Successfully installed MySQL-python
Cleaning up...

después de esto intenté:

$ python -c "import MySQLdb"

y me cagó con:

Traceback (most recent call last):
  File "<string>", line 1, in <module>
  File "/Library/Python/2.6/site-packages/MySQLdb/__init__.py", line 19, in <module>
    import _mysql
ImportError: dlopen(/Library/Python/2.6/site-packages/_mysql.so, 2): Library not loaded: libmysqlclient.16.dylib
  Referenced from: /Library/Python/2.6/site-packages/_mysql.so
  Reason: image not found

Entonces a mi pregunta ...

¿Qué hice mal? / ¿Qué más necesito hacer?

Buscar en Google (y buscar aquí) devuelve muchos resultados al obtener este mensaje de error con Ruby, no demasiados con Python.