The Penguin plunge is an annual event for the Vermont Special Olympics. It is always held in February at the Gateway Center in Newport. Each plunger, or contestant, raises a $100 to participate in the annual plunge into the icy waters of Lake Memphremagog - a 30-mile long lake that straddles the US/Canadian border.
The money goes to the Special Olympics Fund. Each contestants chooses what company or organization they wish to represent. A trophy is given to the organization or company that has the most plungers.