I have a PuTTY terminal running emacs 23. I just installed python-mode.el-6.1.2 and pinard-Pymacs-5989046. The IPython shell looks like this:

IPython 1.1.0 -- An enhanced Interactive Python.
  ?         -> Introduction and overview of IPython's features.
  %quickref -> Quick reference.
  help      -> Python's own help system.
  object?   -> Details about 'object', use 'object??' for extra details.
^[[0;32mIn [^[[1;32m2^[[0;32m]: ^[[0m

Whereas when I run ipython from bash, I get

IPython 1.1.0 -- An enhanced Interactive Python.
  ?         -> Introduction and overview of IPython's features.
  %quickref -> Quick reference.
  help      -> Python's own help system.
  object?   -> Details about 'object', use 'object??' for extra details.
In [1]:

Does this look like a charset issue in my PuTTY setup or should I try to find the issue within emacs/python-mode?
Solution: add this line to ~/.emacs.d/init.el:

(ansi-color-for-comint-mode-on)
Ugly ipython prompt on emacs 23