Decide how large you want your penguin to be. Cut one black circle out of the foam for your penguin's body.
Cut a smaller black circle out of the foam for your penguin's head.
Use some more black foam to cut out to bolt holes that are almost as big as your largest black circle. These ovals will form the wings.
Make the stomach for your penguin by cutting a circle out of the white foam. The circle should be slightly smaller than the largest black circle.
Consider how you want to make the eyes. If you want to use foam for the eyes, then cut two small circles out of the white foam for the eyes and two smaller black circles for the pupils.
Pick up the orange foam and cut out to small ovals that you will use for feet. Using the same foam, cut a triangle for the penguin's beak.
Glue the white circle onto the largest black circle. Using the glue, add the orange ovals to the largest black circle, below the white circle, for feet.
Add the eyes and the beak onto the smaller circle using glue, creating the face. Glue the face to the large black circle above the white circle.
Put the wings on your penguin by adding a dab of glue to the top part of each oval and adhering the ovals to the back of the large black circle.
Add some magnet tape to the back of your penguin if you wish to use it on a refrigerator or other piece of metal. Glue a popsicle stick onto the back of the penguin if you wish to use it as a puppet.