The plan is to get this packaged with setuptools. Until then, checkout the source, then copy the src/cmislib directory into a directory that is on your Python lib path such as site-packages.
Once you do that, you should be able to fire up Python on the command-line and import cmislib successfully.
>>> from cmislib.model import CmisClient, Repository, Folder
To validate everything is working, run some Tests.