In my understanding of the C code that's what the C tokenizer is doing as well.

Here's the relevant snippet of the tokenizer (https://github.com/python/cpython/blob/4b222c9491d1700e9bdd98e6889b8d0ea1c7321e/Parser/tokenizer.c#L1358): When the tokenizer sees a valid identifier start, it goes into a loop that checks for a valid combination of string prefixes. If the combination is valid and it sees a quote directly after that, it goto's to the STRING-handling code. If not, then it breaks out of the loop and returns a NAME node.

Am I missing something?