The ternary operator is useful for evaluating a statement. Any action would be performed by the ternary operators based on the condition of whether the statement is true or false. There are three parameters used in the ternary conditional operator in Python: if_true, expression, and if_false. The ternary operators are used for determining the value of any variable. If the statement is found to be true, then the variable takes the value of 'if_true,' or else it will take the value of 'if_false.'