As d4nyll said, using loop is recommened way. So here is Vor's variant with loop:

---
- hosts: localhost
  gather_facts: false
  vars:
    objs:
      - { key1: value1, key2: [ value2, value3] }
      - { key1: value4, key2: [ value5, value6] }
  tasks:
    - name: create directories
      file:
        path: "{{ item.key1 }}"
        state: directory
      loop: "{{ objs }}"

    - name: create files
      file:
        path: "{{ item.0.key1 }}/{{ item.1 }}"
        state: touch
      loop: "{{ objs | subelements('key2') }}"

Thanks to Nested loops - access property: the key item should point to a dictionary It helped to understand what exacltly should be in subelements