Just pass regular Python code as the argument to the flag:
python -c 'print 1
print 2'
Import modules works, and blank lines are OK, too:
python -c '
import pprint
pprint.pprint(1)
'
When using this feature, just be mindful of shell quoting (and indentation), and keep in mind that if you’re using this outside of a few shell scripts, you might be doing it wrong.