Albinism is due to a lack of melanin which are pigments responsible for the brown / black colour of the teguments.
Albino ball Pythons are of yellow and white colour and have red eyes (the absence of pigmentation at this level makes visible the blood circulation).
Breeders selected various types of albino, particularly "Faded" ("washed-out" colours) and "High Contrast" (very contrasted yellow and white).

Some definitions of genetics...

Allele : alleles are the different versions of the same gene
Dominant allele : an allele is said to be dominant if he is able to pass alone a characteristic trait of the parents to the descendants.
Recessive allele : an allele is said to be recessive if he is not able to pass alone a characteristic trait of the parents to the descendants.
Co-dominant allele : alleles are said to be co-dominant when together they are able to pass a characteristic trait to the descendants.
Homozygous : An individual is said to be homozygous for a given gene if he possesses two identical alleles of this gene.
Heterozygous : An individual is said to be heterozygous for a given gene if he carries two different alleles.

Albino gene is recessive.

male	female	descendants
Albino	Albino	100% of the descendants are Albino
Albino	normal	100% of the descendants are heterozygous Albino (het Albino)
Albino	het Albino	50% of the descendants are Albino 50% of the descendants are heterozygous Albino (het Albino)
het Albino	het Albino	25% of the descendants are Albino 50% of the descendants are het Albino 25% of the descendants are normal NB : Normal and Het Albino are not distinguishable. In this case, normal looking youngs are said to be "66% possible Het Albino"
het Albino	normal	50% of the descendants are het Albino 50% of the descendants are normal NB : Normal and Het Albino are not distinguishable. In this case, normal looking youngs are said to be "50% possible Het Albino"

Few possible combinations :
Spider x Albino
Genetic Stripe x Albino
Clown x Albino
Piebald x Albino (Dream Circle)