This might not be the most efficient way to do it but I can confirm that it works with the sample df:

data = [['Green', 'Rectangle\r\nTriangle\r\nOctangle', 10], ['Blue', 'Rectangle\r\nTriangle', 15]]   
df = pd.DataFrame(data, columns = ['Color', 'Shape', 'Price'])
new_df = pd.DataFrame(columns = ['Color', 'Shape', 'Price'])

for index, row in df.iterrows():
    split = row['Shape'].split('\r\n')
    for shape in split:
        new_df = new_df.append(pd.DataFrame({'Color':[row['Color']], 'Shape':[shape], 'Price':[row['Price']]}))

new_df = new_df.reset_index(drop=True)
print(new_df)

Output:

   Color Price      Shape
0  Green    10  Rectangle
1  Green    10   Triangle
2  Green    10   Octangle
3   Blue    15  Rectangle
4   Blue    15   Triangle

I think this is what you need:

df = pd.DataFrame({'a': np.arange(1, 8),
                  'b': np.arange(1, 8),
                  'c': np.arange(1, 8)})
df.head()
    a   b   c
0   1   1   1
1   2   2   2
2   3   3   3
3   4   4   4
4   5   5   5
5   6   6   6
6   7   7   7

last_check = 0
dfs = []
for ind in [2, 5, 7]:
    dfs.append(df.loc[last_check:ind-1])
    last_check = ind

Although list comprehension are much more efficient than a for loop, the last_check is necessary if you don't have a pattern in your list of indices.

dfs[0]

    a   b   c
0   1   1   1
1   2   2   2

dfs[2]

    a   b   c
5   6   6   6
6   7   7   7