The Flame Penguin Chestplate is a third-tier piece of armor, as you have to shear Flame Penguins to obtain it. While wearing the chestplate, you do not stay on fire after leaving fire or lava. This means you don't need a bucket of water to put yourself out.
The Flame Penguin Chestplate can be repaired with Flame Penguin Scales.
Crafted with Flame Penguin Scales and wool.