A great question and something that I have been working with for some time. The most seamless/ workflow friendly is using gdown.

Presently Colab has a slightly older version install which does not allow full functionality and is installed on pyton2.7 rather than Colab system python. therefore following the terminal/underlining os via `!` method, `!pip installing`:
!pip uninstall gdown -y && pip install gdown
!gdown -V
Then you can use gdown via another !
(method 1) or import gdown (method 2) if you want to use it in code:
Method 1 for whole shared folders/directories:
!gdown --folder https://drive.google.com/drive/folders/sdsldkfj...somefileid.. -O /some_parent_directory/some_child_directory
for files:
!gdown https://drive.google.com/drive/folders/sdsldkfj...somefileid.. -O /some_parent_directory/some_child_directory
Method 2 Using down via importing works as follows:
import gdown
url = 'https://drive.google.com/uc?id=0B9P1L--7Wd2vNm9zMTJWOGxobkU'
output = '20150428_collected_images.tgz'
gdown.download(url, output, quiet=False)
Pasting your google drive file/directory url in both cases.
Hope this helps <^_^>