Although л cannot be expressed as an exact number you can still have an item of length л and you can draw a line of that length. For example a circle of diameter 1 cm will have a circumference of л cm.
Similarly a number such a the square root of 2 cannot be expressed as fraction - it is 1.41421356237309504880 to 20 decimal places but the digits go on for ever. But you can construct a line that is that length- you need an isosceles right angled triangle with two sides of 1cm length. The longer side, the hypotenuse, will have a length equal to square root of 2.
Or divide a line exactly 1 metre long into 7 equal parts. Each part will be 1/7 of a metre long, or 14.2857142857142857142857.....cm.
There are other numbers that crop up in maths that seem unusual such as e (approx 2.718), the base of natural logarithms, but they are important.
These numbers seem unusual because in life we usually deal in whole numbers or at least rounded ones. How tall are you, I ask. You say 188 cm. Well using a more precise measuring device I might say your height is 188.2346cm to 4 decimal places, although your exact height may have an infinite number of decimal places.
These numbers only seem unusual because of the number system we use. If we had chosen to use Pi as representing unity then it is our numbers 1,2,3,4 etc that would seem odd.
Finally: mollykins- you make some good points, although I'd like to point out that 22/7 is only an approximation of л (Pi). Pi cannot be expressed as a fraction.