Notes
The Penguin closed out the first wave as the shortest figure in the line, presenting Oswald Cobblepot in top hat, monocle and formal wear with the squat proportions the character demands. His Power Action Umbrella Arm is activated by squeezing his legs together, swinging his umbrella arm across his body in a striking motion. The short-body tooling makes him a genuine standout on a display shelf beside the taller heroes. Because he shipped in lighter ratios than the core heroes, carded Penguins are meaningfully harder to find than carded Supermen.
The Penguin's colorful molded umbrella is his defining accessory, sized to fit his hand and drive the arm-swing action feature.
A 16-page full-color mini-comic shipped with every carded Penguin.
Collector's Notes:
The umbrella is frequently missing and is one of the most commonly reproduced Wave 1 parts. Original umbrellas show softer paint separation between the canopy panels than the reproductions. The slide out spear is usually missing also.
Sources