Penguins are very cute. This missile is not. The only thing that the weapon and the animal have in common is their incredible navigation skills. The penguin missile, which operates from short to mid-range, can twist, turn, and weave its way to its target to avoid obstacles.
Generally speaking, the targets tend to be large enemy ships. The warhead operates on a time delay, which means it detonates a few seconds after the missile has embedded itself into a target. Planes, ships, and helicopters all use them.