list[1] is a reference to the object located at index 1.
If you're not sure, always draw boxes and arrows and you'll figure it out.
At any rate, the obvious will indeed create a new list containing references
to the same objects as the original list is pointing to.
The mistake in your reasoning is that list[:] creates a copy of the list,
not a copy of the objects in the list.
Good luck,
-Jaap-