I just installed it under 3.4.0 on Ubuntu 14.04 in a VE with "pip install hg+
https://bitbucket.org/pygame/pygame" though I've not tested the build beyond importing the module. Are you using Homebrew or MacPorts at all? MacPorts has 1.9.1 as py27-game. I don't know about the status of the module in Homebrew. If you're happy to experiment, you might try pygame-sdl2 by Tom Rothamel et al at
https://github.com/renpy/pygame_sdl2 I'm trying it now. I used pyvenv-3.4 --system-site-packages py340ve and "pip install --upgrade cython ; pip install --upgrade
git+
https://github.com/renpy/pygame_sdl2.git" Again, no testing beyond importing the module.
If you try the SDL2 version and are using MacPorts, note this problem
https://trac.macports.org/ticket/42406 which seems to be a general thing with the MP GCCs. I'm not sure why they don't patch GCC to include /opt/local/lib in the compiler library path by default.