With the suit, the player can become a penguin by talking to Larry (or by using Larry's "Tuxedo-time" right-click option). Larry can be found at the Ardougne Zoo, the pier south of the Rellekka Hunter area, the penguin iceberg, and the Lumbridge sheep farm. Note that in order to wear the suit, you may not have anything in your hands and you are not allowed to wear a cape.
The Clockwork Suit can be wound and released, like the toy mouse can. You can then catch it for 12.5 Agility experience. If you release the suit and then teleport away, you will not be able to retrieve it.
For now, this device can only be worn with the assistance of Larry.