As a lot of people I have both the 2.7 and 3.5 version of python. Some code is backwards-compatible, some are not. This is because of the lack of modules that exist for 2.7 but
As mentioned in J. F. Sebastian's comment on this answer, the Python Launcher for Windows can select the Python version to run from a shebang line. According to the docs it's installed by default with Python 3.3 and later.