Ping function in Python
I’ll start with a meta comment:


Python (and production code) emphasis readability. There are several parts of your code which are quick difficult to read, or work out what they’re for (more details below). In production code, we don’t just want speed and reliability – we also want code that somebody else can debug in a year, who’s never seen it before. Try to write something that’s easy to follow.


Then a few style comments:


I prefer to list module imports (after grouping them per PEP 8’s recommendations) in alphabetical order. If you have a long list of module imports, this makes it much easier to quickly see whether a module has been imported, or find duplicate imports.
Quoting PEP 8 on line length:


  Limit all lines to a maximum of 79 characters.


The line which defines ret is 126 characters long, which means I can't see it without scrolling off the screen. Ick.


More general comments:


Add comments and docstrings. I don’t know what any of this code does, and even if I work it out, I don’t know why you wrote it that way. For example, what does the ping function return, and why are you passing all those flags to the ping utility?
Use better variable names. A few examples:


I expect a variable named host_list to be a list, but it’s actually a dict.
In production code, I steer clear of single-character variable names like p. Fine in small scripts, but it’s a pain to grep for later.
I’d change the name of the ping function so it can be discussed unambiguously from the command-line ping utility.


I wouldn’t accept these variable names in “production code”.
Not everything is encapsulated in a function. The ping function provides a nice wrapper around the ping utility, but checking the list of hosts is handled at the main level. Wrap this in a function that takes a list of hosts, and returns a list of alive/dead. That makes it easier to reuse this code later.

Then wrap the testing of this particular list of hosts in a main() function, and use the if __name__ == '__main__': main() construction. More portable.
You assume the list of host names is correct. If I drop in something that clearly isn’t a hostname (for example, '127.0.0.1 notahostname' into the hosts tuple), I get a non-zero return code from the subprocess call, but it’s not because that host is dead – it’s because it’s nonsensical.

I would consider storing the return code from each host: this is a much more useful indicator of what’s happened. Alternatively, you could check that hostnames are valid before you pass them in – this Stack Overflow answer looks like it might be useful.
There seems to be duplication of data in host_list and host_stat. I’m really not sure what the point of having both of these dictionaries is. Why not just start with empty lists in host_stat?
That list comprehension is too complicated. Not only is it too long (86 chars), but it’s not immediately obvious what it does. Break it down across multiple lines (remember, Python emphasises readability).
Using /dev/null to throw away the output from subprocess is platform-specific. It’s better to use os.devnull, which should work on non-Unix systems. (from How to hide output of subprocess in Python 2.7)


Four woolier comments:


Are the keys and values of host_stat the right way round? Once you have a dict of host availability data, I’d imagine you’re going to go through the list of hosts one-at-a-time and check if they’re available. For that, surely having the keys be the hostnames makes more sense (but that’s just me).
Why is hosts a tuple? I'd make it a list instead. Also, break it across multiple lines (see below).
I don’t see the value of multiprocessing here. Perhaps if you’re doing it for lots of hostnames, but otherwise I wouldn’t bother.
What do you need logging for? The only thing that might be useful is the return code from ping, but since you’re throwing that away, I’m not sure what you think you’d like to log.


With those comments in mind, here's how I'd rewrite your script:

import os
import subprocess

def ping_return_code(hostname):
    """Use the ping utility to attempt to reach the host. We send 5 packets
    ('-c 5') and wait 3 milliseconds ('-W 3') for a response. The function
    returns the return code from the ping utility.
    """
    ret_code = subprocess.call(['ping', '-c', '5', '-W', '3', hostname],
                               stdout=open(os.devnull, 'w'),
                               stderr=open(os.devnull, 'w'))
    return ret_code

def verify_hosts(host_list):
    """For each hostname in the list, attempt to reach it using ping. Returns a
    dict in which the keys are the hostnames, and the values are the return
    codes from ping. Assumes that the hostnames are valid.
    """
    return_codes = dict()
    for hostname in host_list:
        return_codes[hostname] = ping_return_code(hostname)

    return return_codes

def main():
    hosts_to_test = [
        '127.0.0.1',
        'google.com',
        '127.0.0.2',
        '10.1.1.1'
    ]
    print verify_hosts(hosts_to_test)

if __name__ == '__main__':
    main()