To participate in the contest, Python developers can check out the Twilio app gallery for inspiration or use their existing knowledge of Python to create a project with Twilio's API. The winner will receive a Graphite Amazon Kindle 3G, a $50 O'Reilly Gift Card, and $100 in Twilio credit. To learn more about Twilio's offerings and resources, developers can visit the company's documentation and resource center, which includes API reference documentation, SDKs, helper libraries, quickstarts, tutorials, and industry reports. The contest ends on November 14th at 11:59pm PT.