Although Colin Farrell hasn't yet been officially confirmed in the role, it's looking like he'll be playing the Penguin if he does eventually sign up for Matt Reeves' 'The Batman'.
Just yesterday in fact, Reeves confirmed that John Turturro is set to play Carmine 'The Roman' Falcone, joining Paul Dano as The Riddler, Zoe Kravitz as Catwoman, and Robert Pattinson as Batman. Farrell has been linked with the role of Penguin, but so far hasn't been confirmed.
However, in an interview with ScreenRant, Danny DeVito - who played Penguin in Tim Burton's 'Batman Returns' - gave his opinion on Farrell's casting. "Colin’s a great actor... He’s a good friend of mine. I’ve known him for many years and I think he’s going to do a great job as the Penguin. It’s going to be really interesting to see his take on it."
Really, what's going to make it is how Reeves actually approaches it - whether it's going to be gritty and realistic like Christopher Nolan, or if it's going to be... well, like Zack Snyder. That said, the casting choices so far have been spot on and Farrell could do something interesting with the role.
More to the point, Farrell could very easily play a villain with the kind of intensity that it requires and getting DeVito's blessing would go a long way to getting him to sign up.
'The Batman' is scheduled for release on June 25th, 2021.