Penn Corporation produced Muppet, Sesame Street, Muppet Babies, and Dinosaurs party supplies in the 1980s and 1990s.

Western Publishing acquired the company in 1986. Additionally, Penn Corp. did business as Beach Products, and released items under brands such as Fashion Art and Party Makers. Following a merger in 1996, the company became Contempo Colours.

In 1999, Contempo Colours was sold to American Greetings.