Datastore
Use the datastore to hold any long living information. The datastore should be used like you would use a normal database to hold data that will be used in your site/application.
MemCache
Use this to access data a lot quicker than trying to access the datastore. MemCache can return data really quickly and can be used for any data that needs to span multiple calls from users. It is normally data that was originally in the datastore and then moved to the memcache.
def get_data():
data = memcache.get("key")
if data is not None:
return data
else:
data = self.query_for_data() #get data from the datastore
memcache.add("key", data, 60)
return data
The memcache will flush itself when the item is out of date. You set this in the last param of the add shown above.
Global Variables I wouldn't use these at all since they can't span instances. In GAE a request creates a new instance, well in python it does. If you want to use Global variables I would store the data needed in the memcache.