From Knitted Socks:

These little fellas have three-dimensional beaks, flippers and tails and make a really fun pair of socks. Wear them with sandals to show off your perky penguins.

You will need two 50 gram skeins of the MC, and smaller amounts (less than one 50 gram skein) of the three penguin colors.

Errata
Available from publisher: http://www.octopusbooks.co.uk/uploads/publications/45.pdf