Hot and Cold Penguin is a 1955 Chilly Willy cartoon directed by Alex Lovy and produced by Walter Lantz.

It was the third Chilly Willy entry in the series and was the first cartoon Alex Lovy directed at the Walter Lantz Studio since his departure in 1943. Although Tex Avery had departed the year prior, he left behind several storyboards ultimately utilized by Lovy for Hot and Cold Penguin, Room and Wrath and Hold That Rock. Lovy remained director of the series for the remainder of the decade.