When a male gets a little bit too exited when he's talking to a very beautiful girl and accidentally cums prematurely. By having wet pants, the male usually walks in a weird manner resembling a penguins method of walking.
joe:hey mary girl i always loved.
mary: your so fine i want you inside me now!!
joe:** FUCK i prematurely cummed myself!!
(in a distance)
Tom: hey billy, look at that looser kid, he has a wet penguin.
Billy: hahaha i bet he wont ever get laid.