Penelope's 

Penelope's was one of the labels owned by the Oliver family of Hawaii.  From son Gary Oliver: 

"You might be interested in knowing that my parents made this dress.  They manufactured clothes here in Honolulu under the name Kahana Manufacturing.  My mother was the designer and my father ran the business.  They had a few of stores in Waikiki and three were named after my sisters, Kathleen's, Penelope's and Valerie's.  Penelope's stayed open through the 70's."

 
from a 1940s cotton sundress with bolero jacket  
 courtesy of denisebrain