As of Python 3.2 (when context manager support was added to Popen), I have found this to be the most straightforward way to continuously stream output from a subprocess:

import subprocess


def run(args):
  with subprocess.Popen(args, stdout=subprocess.PIPE, stderr=subprocess.STDOUT) as process:
    for line in process.stdout:
      print(line.decode('utf8'))

Had some problems referencing the selected answer for streaming output from a test runner. The following worked better for me:

import subprocess
from time import sleep

def stream_process(process):
    go = process.poll() is None
    for line in process.stdout:
        print(line)
    return go

process = subprocess.Popen(cmd, shell=True, stdout=subprocess.PIPE, stderr=subprocess.STDOUT)
while stream_process(process):
    sleep(0.1)

According to the documentation:

Popen.poll()

Check if child process has terminated. Set and return returncode attribute.

So based on this you can:

process = subprocess.Popen('your_command_here',stdout=subprocess.PIPE)
while True:
    output = process.stdout.readline()
    if process.poll() is not None and output == '':
        break
    if output:
        print (output.strip())
retval = process.poll()

This will loop, reading the stdout, and display the output in real time.

This does not work in current versions of python. (At least) for Python 3.8.5 and newer you should replace output == '' with output == b''

If you want to treat stdout and stderr separately, you can spawn two threads that handle them concurrently (live as the output is produced).

Adapted from my more detailed answer:

import logging
from collections import deque
from concurrent.futures import ThreadPoolExecutor
from functools import partial
from subprocess import PIPE, CalledProcessError, CompletedProcess, Popen


def stream_command(
    args,
    *,
    stdout_handler=logging.info,
    stderr_handler=logging.error,
    check=True,
    text=True,
    stdout=PIPE,
    stderr=PIPE,
    **kwargs,
):
    """Mimic subprocess.run, while processing the command output in real time."""
    with (
        Popen(args, text=text, stdout=stdout, stderr=stderr, **kwargs) as process,
        ThreadPoolExecutor(2) as pool,  # two threads to handle the (live) streams separately
    ):
        exhaust = partial(deque, maxlen=0)  # collections recipe: exhaust an iterable at C-speed
        exhaust_async = partial(pool.submit, exhaust)  # exhaust non-blocking in a background thread
        exhaust_async(stdout_handler(line[:-1]) for line in process.stdout)
        exhaust_async(stderr_handler(line[:-1]) for line in process.stderr)
    retcode = process.poll()  # block until both iterables are exhausted (process finished)
    if check and retcode:
        raise CalledProcessError(retcode, process.args)
    return CompletedProcess(process.args, retcode)

Call with simple print handlers:

stream_command(["echo", "test"], stdout_handler=print, stderr_handler=print)
# test

Or with custom handlers:

outs, errs = [], []
def stdout_handler(line):
    outs.append(line)
    print(line)
def stderr_handler(line):
    errs.append(line)
    print(line)

stream_command(
    ["echo", "test"],
    stdout_handler=stdout_handler,
    stderr_handler=stderr_handler,
)
# test
print(outs)
# ['test']