Main update from the fork and the awesome post by opinionated programmer is that the default prompt is based on the Ubuntu one, and allows to show Python's virtual environment. Add the snippet to .bash_profile or .bashrc

git-prompt.sh

# Snazzy git prompt

#http://www.opinionatedprogrammer.com/2011/01/colorful-bash-prompt-reflecting-git-status/
function _git_prompt() {
    local git_status="`git status -unormal 2>&1`"
    if ! [[ "$git_status" =~ Not\ a\ git\ repo ]]; then
        if [[ "$git_status" =~ nothing\ to\ commit ]]; then
            local ansi=42
        elif [[ "$git_status" =~ nothing\ added\ to\ commit\ but\ untracked\ files\ present ]]; then
            local ansi=43
        else
            local ansi=45
        fi
        if [[ "$git_status" =~ On\ branch\ ([^[:space:]]+) ]]; then
            branch=${BASH_REMATCH[1]}
            test "$branch" != master || branch=' '
        else
            # Detached HEAD.  (branch=HEAD is a faster alternative.)
            branch="(`git describe --all --contains --abbrev=4 HEAD 2> /dev/null ||
                echo HEAD`)"
        fi
        echo -n '\[\e[0;37;'"$ansi"';1m\]'"$branch"'\[\e[0m\] '
    fi
}

function _python_env_prompt() {
    # Virtual Env
    if [[ $VIRTUAL_ENV != "" ]]
       then
           venv="(${VIRTUAL_ENV##*/}) "
    else
       venv=''
    fi

    echo -n ${venv}
}

function _prompt_command() {
    PS1="`_python_env_prompt`""`_git_prompt`"'\[\e]0;\u@\h: \w\a\]${debian_chroot:+($debian_chroot)}\u@\h:\w\$ '
}

PROMPT_COMMAND=_prompt_command

# end snazzy git prompt