boto3 offers a resource model that makes tasks like iterating through objects easier. Unfortunately, StreamingBody doesn't provide readline or readlines.
s3 = boto3.resource('s3')
bucket = s3.Bucket('test-bucket')
# Iterates through all the objects, doing the pagination for you. Each obj
# is an ObjectSummary, so it doesn't contain the body. You'll need to call
# get to get the whole body.
for obj in bucket.objects.all():
key = obj.key
body = obj.get()['Body'].read()
For a detailed explanation on S3, check this out!
Hope this helps!