Mego Penguin 

Penguins are pretty easy to find, but his head is really neat! Quick story: I remember (Isn't it weird how some conversations stick with you, yet entire years vanish in the mist?) being seven or eight and trying to talk my mom into buying me a Penguin doll. She said if she bought it I'd play with it for a few days and forget about it (Common complaint by the maternal species...). She was right, but I wish I could have told her that a loose mint version was going to cost me forty bucks later...Come to think of it, she's still not real impressed with that argument either.

Mego Penguin comes with a stiff vinyl fabric tuxedo jacket, as opposed to the Joker's cloth one. Standard black dress shoes. No other accessories.

Mego Canadian Grand Toys MOC Penguin (courtesy of Scott Arendsen) and 1977 US Card courtesy of Troy Maynus.

Below, Tom has provided us with a detailed look at the Mego Penguin card releases, very nice!

Mego Kresge Carded Penguin also from Scott Arendsen

This a 1st version Kresge cards for the Villians (Note square edge bubbles versus the rounded edge bubbles the later Kresge versions and regular carded superheroes came on). They also have extra text between their feet which the is not seen with the 2nd version Kresge villians. (lesson and pics courtesy Raj)

Below is the Lily Ledy (Mexico) Mego Penguin. The rarest Penguin of all, note the obvious but subtle differences between the US version and this one.