no any libs are used:
dict_format_string = "{'1':'one', '2' : 'two'}"
d = {}
elems = filter(str.isalnum,dict_format_string.split("'"))
values = elems[1::2]
keys = elems[0::2]
d.update(zip(keys,values))
NOTE: As it has hardcoded split("'")
will work only for strings where data is "single quoted".