The elementtree interface, which lxml also offers, supports that -- e.g. with the built-in element tree in Python 2.7:
>>> from xml.etree import ElementTree as et
>>> x='''<div>
... text1
... <div>
... t1
... </div>
... text2
... <div>
... t2
... </div>
... text3
... </div>'''
>>> t=et.fromstring(x)
>>> for el in t.iter():
... print '%s: %r, %r' % (el.tag, el.text, el.tail)
...
div: '\ntext1\n', None
div: '\n t1\n', '\ntext2\n'
div: '\n t2\n', '\ntext3\n'
Depending on your version of lxml/elementtree, you may need to spell the iterator method .getiterator() instead of .iter().
If you need a single generator that will yields tags and texts in order, for example:
def elements_and_texts(t):
for el in t.iter():
yield 'tag', el.tag
if el.text is not None:
yield 'text', el.text
if el.tail is not None:
yield 'tail', el.tail
This basically removes the Nones and yields two-tuples with a first item of 'tag', 'text', or 'tail', to help you distinguish. I imagine this is not your ideal format, but it should not be hard to mold it into something more to your liking;-).