Yes, you can use find_elements_by_ to retrieve children elements into a list. See the python bindings here: http://selenium-python.readthedocs.io/locating-elements.html
Example HTML:
<ul class="bar">
<li>one</li>
<li>two</li>
<li>three</li>
</ul>
You can use the find_elements_by_ like so:
parentElement = driver.find_element_by_class_name("bar")
elementList = parentElement.find_elements_by_tag_name("li")
If you want help with a specific case, you can edit your post with the HTML you're looking to get parent and children elements from.