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EuroRail is the only train pass I know of. But research before buying. You'll have to pay extra (reservation fees) on all high speed trains in France and the channel train (England to France) is not included. I'm going to Europe (Eng., France and Spain) for 3 weeks and it was cheaper to buy individual tickets or fly than the EuroRail pass.
Buy them individually - if under 25, you may be able to get a discount depending on the country
Train ticket - they sell 1 month 2 months pass. You can buy them outside of the Europe or after arrive. Cheaper to buy it in US as a "nonresident"
Figure out where you want to go and when. Buy direct train tickets for those trips. Will almost surely be cheaper than buying a pass. The pass gives you variability (I.e., travel at a minutes notice to whatever destination). Since the train company can't plan for this as easily, they charge you more for it. It's similar to airplanes and how a refundable ticket costs more than a non-refundable ticket.