Origin

Oswald Cobbelpot, though born in a wealthy and socially placed family, had a hard time growing up. Due to his short, stubby appearance, and distinctive nose; he'd get teased and mocked by other children who would often compare him to a bird. Feeling like an outcast was the main cause that drove him to a criminal life.

"Penguin" was one of the nicknames that other children would call young Oswald to tease him. He took this name and used birds as a theme for his life of crime. Another trait that comes from his childhood is his classic umbrella. When he was young, his mother would make him carry an umbrella with him all the time to prevent him from rain as she feared that he might get ill and die like his father before him.

Umbrellas

During his criminal career, The Penguin has shown many different types of Umbrellas; most of which are rarely used for protection from the rain. He's had many weapons shaped like umbrellas. These weapons rage from the occasional knife-umbrella to high powered umbrella-shotguns. He's also used some umbrellas for transportation. There's been the gliding umbrella and the ever so popular umbrella chopper. Other umbrellas have been used to cast webs for trapping people, lighters and flamethrowers, tranquilizer guns and gas expelling umbrellas. Another item which The Penguin is almost always seen with is A Gold Monocle.

Infinite Crisis

The Penguin featured breifly in the events of Infinite Crisis. In the limited series' seventh issue, he is briefly seen as part of the Battle of Metropolis, a multi-character fight started by the Secret Society of Super Villains.

You can find me in the club

Lately, Mr. Cobblepot has used his notoriety in his favor and has turned away from a life of crime to pursue a more honorable profession as the proprietary of the popular Gotham City's night club "Iceberg Lounge." Truth be told, the Iceberg Lounge isn't exactly completely kosher, but Batman let's it slide because it is a good source for information on the Gotham's outlaws.

Elseworlds

Batman vs Lobo (One Shot)- The penguin in this Elseworld is a much smaller version. He resembles a cross between a Penguin and a Squid, his feet resemble a squids tentacles. He was killed when Lobo stuck a large cigar in his mouth and lite it, the cigar exploded removing his face.