It shows the ... because otherwise it would have to infinitely recurse.
A list object in Python is a pointer to a list- assigning it like l[0] = l doesn't make a copy. For instance, try
l1 = [1, 2, 3, 4]
l2 = [1, 2]
l2[0] = l1
print l2
# [[1, 2, 3, 4], 2]
l2[0].append(5)
print l1
# [1, 2, 3, 4, 5]
Notice that even though you never changed l1 explicitly, it has now been appended to.
Therefore, when you place a list within itself, that item of the list is still a link to the entire list. After your code above, try doing:
l[1] # ==> 2
l[0][1] # ==> 2
l[0][0][1] # ==> 2