Python3 + Using boto3 API approach.
By using S3.Client.download_fileobj API and Python file-like object, S3 Object content can be retrieved to memory.
Since the retrieved content is bytes, in order to convert to str, it need to be decoded.
import io
import boto3
client = boto3.client('s3')
bytes_buffer = io.BytesIO()
client.download_fileobj(Bucket=bucket_name, Key=object_key, Fileobj=bytes_buffer)
byte_value = bytes_buffer.getvalue()
str_value = byte_value.decode() #python3, default decoding is utf-8