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The second Penguin Souvenir is in the Well of Infinitude. This is the area on the right-hand side of Europa, accessed via Asterion Abyss. To reach the Well of Infinitude, make your way to Asterion Abyss and then toward the Nexus (this is where the Glassway Strike takes place). As you enter the Nexus, take the right-hand path and follow it toward the Well (the left side of the fork leads to the Glassway).
Walk through the hallways until you reach the long chute that angles down toward the next area. Instead of following it down, look to the left of the entrance to find a little alcove, the penguin is behind a barrier. Hold the interact button to lower the barrier and then claim the souvenir.
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