If you want basic installation help, the general sequence of commands is:
I'd be wary of replacing the system python 2.6 with a newer version, so you'll likely want to use the --prefix=/path/to/somewhere option to 'configure'.
If you want to emulate the system python configuration, look at a source RPM for python 2.6 from https://oss.oracle.com/ol6/SRPMS-updates/ and see what it does. You can expand the *.srpm file with
rpm2cpio *.rpm | cpio -idmv
rpm2cpio *.rpm | xz -d | cpio -idmv