Blue penguin: did you know that 2=1?
Red penguin: prove it
Blue penguin: 1 = 1
Blue penguin: 41-40 = 61-60
Blue penguin: 16 + 25 - 40 = 36 +25 - 60
Blue penguin: 42 + 52 - 2x4x5 = 62 + 52 - 2x6x5
Blue penguin: (4-5)² = (6-5)²
Blue penguin: 4-5 = 6-5
Blue penguin: 4 = 6
Blue penguin: 2 = 3
Blue penguin: 1 = 2
Red penguin: nice try, but there's a mistake

(The mistake is at the taking of the square roots, one is negative and the other is positive)