Characters in this game are all penguins who are pirates (thus, the name). Characters have three Traits (somewhat like Attributes), including Pirate, Penguin, and Idiom. Pirate and Penguin balance the character's approach to seafaring and in many ways are opposites. Idiom defines everything else about the character.
Play is almost entirely narrative development, with players taking turns performing narrative creation. The game uses shots of rum (for the players) as a sort of narrative control.
The game was published as a series of numerous small posts to the contest forum over several days; it is thus fairly difficult to access the complete rules.