You can see the original sketch at my blog here: http://sarahpecorino.blogspot.com/2010/09/penguins-cant-fly.html
First round of color: I tried to work with a limited palate,
but I wasn't convinced it was the right one...
So I adjusted the blue sky a bit and added darker values
and new highlights to shift the light source.
I tweaked the blue sky again and changed the color of the parachute.
And here's the final version:
Have a creative day! - Sarah