Python re.sub replace with matched content

Simply use \1 instead of $1:

In [1]: import re

In [2]: method = 'images/:id/huge'

In [3]: re.sub(r'(:[a-z]+)', r'<span>\1</span>', method)
Out[3]: 'images/<span>:id</span>/huge'

Also note the use of raw strings (r'...') for regular expressions. It is not mandatory but removes the need to escape backslashes, arguably making the code slightly more readable.

Use \1 instead of $1.

\number Matches the contents of the group of the same number.

http://docs.python.org/library/re.html#regular-expression-syntax

A backreference to the whole match value is \g<0>, see re.sub documentation:

The backreference \g<0> substitutes in the entire substring matched by the RE.

See the Python demo:

import re
method = 'images/:id/huge'
print(re.sub(r':[a-z]+', r'<span>\g<0></span>', method))
# => images/<span>:id</span>/huge