Penelope is a lady in a very old story called the Odyssey. In the Odyssey, a man named Odysseus goes on a long adventure and ends up away from home for 20 years. While he is gone, his wife Penelope stays at home and tries to keep their land and home safe from bad guys who want to take it over.
Penelope is very smart and clever. She comes up with a lot of plans to keep the bad guys away from her home. One of her most famous plans was to weave a big blanket that she never finished. Every day she would weave a little bit, and every night she would undo all her work. This way, she never finished the blanket, and the bad guys couldn't make her marry one of them until she finished it.
Penelope was also very loyal to her husband Odysseus. She waited for him to come back home for 20 years! She never gave up hope that he would return, even when everyone else thought he was probably dead by now. When he finally did come back, she was very happy and they lived happily ever after.
So, in summary, Penelope is a lady from a very old story called the Odyssey who is very smart and loyal. She comes up with plans to protect her home and waits a very long time for her husband to come back home.