You should be using raw strings in your code
>>> x = 'one two three'
>>> y = re.search(r"\btwo\b", x)
>>> y
<_sre.SRE_Match object at 0x100418a58>
>>>
Also, why don’t you try
word = 'two'
re.compile(r'\b%s\b' % word, re.I)
Output:
>>> word = 'two'
>>> k = re.compile(r'\b%s\b' % word, re.I)
>>> x = 'one two three'
>>> y = k.search( x)
>>> y
<_sre.SRE_Match object at 0x100418850>