You can write a recursive function to do this:
>>> s = 'A:B:C:D'
>>> v = ['some','object']
>>> def generate_dict(keys, val):
... if len(keys) == 1:
... return {keys[0]: val}
... return {keys[0]:generate_dict(keys[1:], val)}
...
>>> generate_dict(s.split(':'), v)
{'A': {'B': {'C': {'D': ['some', 'object']}}}}
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