So the penguin strategy is great at controlling the board and can be really great if you get it rolling as a full combo but isn't as consistent as some other meta strategies. You have some great water synchros at your disposal too like dragite and archethys. So how do you achieve this?
How you get penguins to be so good is that you have an in archtype rescue rabbut that you can use multiple times per turn. Here's the combo I came up with:
Get Great Emperor Penguin out on the field in some way
use its effect to summon penguin ninja and puny penguin
use ninja's effect to set puny, then activate squire from your hand to special summon it
use squire's effect to flip puny back up, now making puny live
use squire and puny to go into halq
use puny's effect on CL 1, the hlaq on CL2
Halq will summon Deep Sea Diva and puny will bring back Emp
use Emp again to bring out Nopenguin and polar penguin
go into penguin brave with Nope and polar, this is important because Nope will come back
Penguin brave will activate its effect to set penguin soldier, and the Nopenguin will activate its mandatory effect to special summon itself from the graveyard
then you go into Deep Sea Repititeur with Nope and diva
then go into dragite with your ninja and Repititeur
repititeur will be able to bring back Emp one final time so you can use the effect again to bring out any two penguin monsters, preferably 2 nightmare penguin to go into bahamut shark and bring out Toadally Awesome, but you can go into other stuff with maybe another level 6 synchro.
That's the strategy I came up with, you won't be able to pull it off 24/7 but it stops a lot decks. Feel free to side whatever you want like other floodgates or hand traps and adjust how you see fit.