Guake is a great terminal utility, but even thought I always install it I rarely end up using it because I always have many terminal windows opened all the time.
But yesterday I found that that Guake not only works for shell, it can also be used to load a Python interpreter.
Now that's interesting.
Unfortunately Guake only list the different Python versions installed on your system in the preferences panel.
But fortunately it's easy to tweak.
Simply open Ubuntu's Configuration Editor, in /apps/guake/general/default_shell you will see something like /bin/bash. Simply change it for /usr/bin/ipython2.7 (this path might change depending of your setup).
Finally, close the configuration editor and restart Guake.