Green’s Dictionary of Slang

penguin suit n.

also penguin gear

a dinner jacket.

[UK]M. Terry Old Liberty (1962) 36: I bought myself a penguin suit.
[[US]P. Crump Burn, Killer, Burn! 158: ‘Say, Deacon, ya cop a tux?’ Earl asked. ‘What de hell do I look like, a penguin?’].
[UK]N. Cohn Awopbop. (1970) 11: The big bands lined up strict and formal in penguin suits.
[UK]‘P.B. Yuill’ Hazell and the Three-card Trick (1977) 90: I’d just been one of the flunkeys in penguin suits.
[Aus]B. Humphries in Tharunka 13 June 14/4: ‘[A]ll you gotta do is to front up in your penguin gear on the first nights of the Australian Dried Fruit Ballet Awards’.
[UK]M. Read Scouting for Boys in Best Radio Plays (1984) 168: You don’t know where you are without me, do you comrade? I ain’t wearing that penguin suit no more.
[Aus]B. Humphries Traveller’s Tool 31: If you like getting into penguin gear, watch out for the sub-tropical weather.
[Aus]J. Birmingham Tasmanian Babes Fiasco (1998) 110: I recognise that fucking penguin suit.