Penguins are a food source for a number of
marine mammals, especially leopard seals. These seals hide under
ice flows and wait for their prey. Other marine mammal predators
are sea lions and orcas.
The penguins aren't without protection though. Their white bellies blend with the snow and sunlight making
it difficult for an underwater predator to see them.
Penguins are also eaten by a number of
birds -- for example, the Australian sea eagle and the Skua. The
penguins black backs blend against the dark ocean water, making it more
difficult to spot them from above.
Penguins also have a number of on-land
predators like ferrets, cats, snakes, lizards, foxes and rats.