The Grim Reaper

Not to be confused with Ban, who takes a penguin to who-knows-where from a 24-hour "Time Out" or forever.

The Grim Reaper aka. Death is a personification that appears when a penguin is almost going to die, and only appears if the penguin actually will die. Dying penguins usually describe to their loved ones by their deathbeds that there is a distinct bright light. Then "A shady character, with a black hood, and a candy-cane scythe..." appears. Then death will escort the dead penguin's soul to either Diss if they were bad or The Overworld if they were good, as believed. However, death can only be instantaneous, as the "That's Death!" code will instantly revive the penguin to normal condition if they attempt to die in any way Director Benny doesn't approve of.

What exactly Diss is
Diss is a prison where dead penguins go, even worse than Owcatraz. People like Storm Ninja and Pigma55 will go there when they die at last.

What exactly The Overworld is
The Overworld is a place of luxury where people like Flywish and Explorer will go when they unfortunately die (King of cp can't die, he has the All amulet).