Final answer:
The given code prints the third character of the third item in the list, which is 'a' from the word 'diamond'.
Step-by-step explanation:
The code in question is accessing a list of shapes and then indexing into a specific element within that list to print a single character. In this code:
shapes = ['circle', 'rectangle', 'diamond', 'square', 'line']
print(shapes[2][2])
We are first accessing the third item in the list shapes (since indexes in Python are zero-based, shapes[2] corresponds to 'diamond'), and then the third character of the word 'diamond' (shapes[2][2]), which is 'a'. Hence, the correct output of the code is 'a'.