time.sleep
blocks the execution of the program.
Use after
.
For example:
from Tkinter import *
def blink():
e.config(bg='green')
e.after(1000, lambda: e.config(bg='white')) # after 1000ms
root = Tk()
e = Entry(root)
e.pack()
b = Button(root, text="blink", command=blink)
b.pack()
root.mainloop()