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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:
 def compile_emoticons(emoticons_list):
 """ Compile a new list of emoticon tuples. Each tuple contains a compiled regular expression of the emoticon, and the html version of the emoticon. """

    emoticons_compiled = []
    for emoticons, image in emoticons_list:
        for emoticon in emoticons:
            context = {
                'name': emoticon,
                'image': os.path.join(EMOTICONS_DIRECTORY, image),
                'code': binascii.hexlify(emoticon.encode('utf-8'))}
            emoticons_compiled.append(
                (re.compile(re.escape(emoticon)),
                 EMOTICON_TEMPLATE.render(context).strip())
            )
    return emoticons_compiled