Very cute, right? Having never made this style of hat before, I began searching Ravelry.com for a similar pattern. Soon, I found this:

Perfect! I purchased the pattern and desired yarn colors and got to business immediately. The pattern was very well written and the hat worked up amazingly fast. Next thing I knew (3 hours or so later) I had completed the hat! Here is the finished product:
I am super pleased with how it turned out and, more importantly, so is my friend! I have since made another for a coworker, in identical colors. The pattern came with both boy and girl penguin versions, and pattern sizes from newborn to adult.
Think it's super cute? Check out my listing on Etsy. Any size/color combo available.