The Penguin Plunge is an annual fundraising event where participants jump into icy waters to raise money for charity. Typically held in winter, this event attracts brave individuals who are willing to take a chilly dip for a good cause. Participants often dress in fun costumes and gather donations from friends and family to support various charities. The event not only promotes community spirit but also raises awareness for important issues, making it a popular and entertaining occasion for both jumpers and spectators alike.