>>> [''.join(each) for each in zip(*[iter(s)]*5)]
['00010', '10001', '10111', '01101', '11010', '00101']
or
>>> map(''.join, zip(*[iter(s)]*5))
['00010', '10001', '10111', '01101', '11010', '00101']
[EDIT]
The question was raised by Greg Hugill, what to do with two tails? Here are a few possibilities:
>>> from itertools import izip_longest
>>>
>>> map(''.join, izip_longest(*[iter(s)]*5, fillvalue=''))
['00010', '10001', '10111', '01101', '11010', '00101', '11']
>>>
>>> map(''.join, izip_longest(*[iter(s)]*5, fillvalue=' '))
['00010', '10001', '10111', '01101', '11010', '00101', '11 ']
>>>
>>> map(''.join, izip_longest(*[iter(s)]*5, fillvalue='0'))
['00010', '10001', '10111', '01101', '11010', '00101', '11000']