(just sticking to a fanfiction I made portraying a nickelodeon commercial) Operation Battle at the Atoll
The penguins challenge spongebob and the gang into a fight and the penguins eat the gang if it's black and white victory. (please note, it's theorized that the show spongebob takes place after the underwater nuclear explosion at the Bikini Atoll)

Alternative Disaster:
When an invetion of Kowalski went wrong, the penguins find themselves blasted into a alternative universe, where they´re humans and all voice actors for a show called, "Penguins of Madagascar". They find themselves with different lives.
Worse yet, they have no idea how to get home.

(to make it extra fun, the acotors themselves could get turned into penguins and blasted into the show they act for xP)

(I got the idea from the series Supernatural, where the same thing happens to Sam and Dean. xP