originalString = 'bpy.types.object.location.* std:label -1 editors/3dview/object/properties/transforms.html#bpy-types-object-location Transform Properties'
# this separates your string by spaces
split = originalString.split(' ')
# first element is ready to go!
first_element = split[0] # 'bpy.types.object.location.*'
# second element needs to be cut at "#"
second_element = split[3]
second_element = second_element[:second_element.find('#')] # editors/3dview/object/properties/transforms.html
# now you have your desired output
output = tuple(first_element, second_element)
solved Python: How to cut a string up and use parts of it and discard others [closed]