The Penguin was a detective and master spy who protected Canada against Axis spies, saboteurs an infiltrators during World War II.
Wearing a coat and tales and a distinctive face mask, the Penguin was an acrobat, expert hand-to-hand combatant, marksman, master detective and the most prominent mystery man in Canada, so much so that his true identity became one of the secrets that spies most sought from Canada.
However it was well known among evil-doers that those who saw the face the Penguin did not live long after seeing it.
As the war progressed The Penguin started to execute spy hunting expeditions below the 49th parallel into the United State, during these he kept the same clothing as before but called himself the Blue Raven, perhaps to avoid confusion with an American villain who used the same motif.
The most likely candidate for being the Penguin was Bruce Baron a well known “neo-socialite.” (whatever the heck that is!)
The Great White North Knight
The Penguin was a Canadian superhero in the 40’s and one of the first that they planed on trying to market in the United States, that was the reason for the change to the Blue Raven.
A Note for Comics-Vine listings.
Unfortunately a number of people have confused the Bell Features comic “Wow” with Fawcett’s comic of the same name that stared Mr. Scarlet & Pinky and Mary Marvel, so it’s rather badly mixed in with “Wow” Comics
The thing to look for is that in the comic from Canada wow is in quotes.
Also, despite his being on a list of "DC Heroes" he is not and never has been owned or published by DC comics.