Melt your chocolate chips either in the microwave or over a double boiler. Once completed melted, add coconut oil and stir until well combined. Line a cookie sheet with parchment paper. Set both chocolate and pan aside.
Peel bananas and cut each one in half. Dip the pointed end of the banana in the chocolate, covering about 1 inch. Place carefully on lined cookie sheet and let chill for about 20 to 30 min. in the refrigerator.
Once chocolate is set, use buttercream frosting to "glue" eyes and orange chocolate candies (these will serve as the penguin's beak and feet)