[python] How to remove list elements in a for loop in Python?

Probably a bit late to answer this but I just found this thread and I had created my own code for it previously...

    list = [1,2,3,4,5]
    deleteList = []
    processNo = 0
    for item in list:
        if condition:
            print item
            deleteList.insert(0, processNo)
        processNo += 1

    if len(deleteList) > 0:
        for item in deleteList:
            del list[item]

It may be a long way of doing it but seems to work well. I create a second list that only holds numbers that relate to the list item to delete. Note the "insert" inserts the list item number at position 0 and pushes the remainder along so when deleting the items, the list is deleted from the highest number back to the lowest number so the list stays in sequence.