I looks like you mean something like graphical windowed UI. For what platform(s), by the way?
Of course, this is possible. There is a number of frameworks for such projects. You can start here:
https://wiki.python.org/moin/GuiProgramming[
^].
Same thing is with the choice of different IDE. You can start here:
https://wiki.python.org/moin/IntegratedDevelopmentEnvironments[
^].
As you can see, Python is popular enough for people to develop different solutions you could use.
Also, you mentioned "IDE like Visual Studio". Why only "like"? There is such thing as Python for .NET and Mono, with well-known Visual Studio add-on and correspondent project templates. It's called Iron Python. Please see:
http://en.wikipedia.org/wiki/IronPython[
^],
http://ironpython.net/[
^].
This way, you can enjoy Python development using Visual Studio, and, as always with .NET, develop assemblies implementing different types of .NET Windows UI, which can also run on Mono for Linux, Mac OS X and other platforms. There is also such possibility as using Python Tools for Visual Studio (PTVS); it supports some other Python implementations. Please see:
http://pytools.codeplex.com[
^].
It's possible that there are other solution I'm not familiar with. Even at this point, you have enough to give it a try.
—SA