The phrase "penguin suit" refers to a formal tuxedo or a black suit that people wear for fancy and special occasions. It is called a penguin suit because when someone wears it, they might look similar to a black and white penguin. Full definition
for their support with rallies and public events in Hobart — especially the volunteers that have donned penguin suits. (antarcticocean.org)
The pasted - in penguin suited Diebold's sense of humor, said David Corcoran, one of his brothers and a longtime colleague of mine on the Science desk of The Times. (dotearth.blogs.nytimes.com)
But the simple fact remains, no matter how nice that flashy new penguin suit is reported to be, that bird — even if it is an emperor penguin — is still stark - naked. (selfpublishing411.com)