Have you tried Google? The official doc was the first result when I entered "python api" http://docs.python.org/api/api.html
Please note that this forum is for help with the Sun Update Connection-Enterprise product and should not be used for general inquiries, please choose a more appropriate forum in future.
To my knowledge we don't yet have an external URL for the API documentation (or even a Sun branded document).
There is a PDF with API documentation - please see Chapter 1. You can ignore the branding, it says Aduva but the content of API Chapter 1 is still good.
Also, on the EIS cd (April) there is a script called init_api which will configure it for you after installing the 2 rpms (or pkgs), this is included with the PDF which you can get from the link below:
https://supportfiles.sun.com/download?directory=downloads&file=api%2etar%2e gz