f = ['one', 'two']
s = ['three', 'four', 'five']
for x in f:
    for y in s:
        print x+"|"+y

one|three
one|four
one|five
two|three
two|four
two|five

from itertools import combinations, product
elements = ["one", "two", "three", "four", "five"]
result = combinations(elements, 2)
print tuple(result)
# >>
#(('one', 'two'), ('one', 'three'), ('one', 'four'), ('one', 'five'),
#('two', 'three'), ('two', 'four'), ('two', 'five'), ('three', 'four'),
#('three', 'five'), ('four', 'five'))
iterable_one = ["one", "two"]
iterable_two = ["three", "four", "five"]
result = product(iterable_one, iterable_two)
print tuple(result)
# >>
#(('one', 'three'), ('one', 'four'), ('one', 'five'), ('two', 'three'),
#('two', 'four'), ('two', 'five'))

dirs = [["var", "home"], 
           ["www", "html"], 
           ["index.php", "test.php", "info.php"]]
def Recursion(arr, count = 0, mass = [], total = []):
    if not count < len(arr): return
    for i in arr[count]:
        data = mass + [i]
        if count == len(arr)-1:
            total.append(data)
        Recursion(arr, 1+ count, mass + [i], total)
    return total
                        
for i in Recursion(dirs):
    print "/"+"/".join(i)

>>> dirs = [["var", "home"], 
           ["www", "html"], 
           ["index.php", "test.php", "info.php"]]
>>> for i in product(*dirs): print i
('var', 'www', 'index.php')
('var', 'www', 'test.php')
('var', 'www', 'info.php')
('var', 'html', 'index.php')
('var', 'html', 'test.php')
('var', 'html', 'info.php')
('home', 'www', 'index.php')
('home', 'www', 'test.php')
('home', 'www', 'info.php')
('home', 'html', 'index.php')
('home', 'html', 'test.php')
('home', 'html', 'info.php')
>>>