For a longer period.
import time
start_time = time.time()
...
e = int(time.time() - start_time)
print('{:02d}:{:02d}:{:02d}'.format(e // 3600, (e % 3600 // 60), e % 60))
would print
00:03:15
if more than 24 hours
25:33:57
That is inspired by Rutger Hofste's answer. Thank you Rutger!