I'm chillin' like a villain
Like the penguin in its fuckin' igloo eatin' fudgesicles

from T.I. (Ft. Eminem) – That's All She Wrote (Alternate Eminem Verse) Lyrics on Rap Genius

Meaning

Another great example of Eminem extending his metaphors. When saying the old line chillin like a villain, he extends it by punning the word penguin, from an animal that lives in cold (chill) places and most likely the Penguin (down below) from Batman, eating fudgesicles, in an igloo. Notice that he plays off the word chill in two definitions, as in chill-cold(which the expected temp in an igloo while eating fudgesicles. An chill-cool, relaxed(can’t get anymore chill than eating a fudgesicle).

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