Dead Space Peng

In Dead Space the Peng Treasure is a hidden item that unlocks an Achievement in the Xbox 360 version of Dead Space and a Bronze Trophy in the PS3 version. GameFAQs: Dead Space Q&A

In Chapter 11 you'll find yourself in a hangar bay with two walkways, a location from Chapter 1 of the game when you first leave your ship. When you're leaving the Kellion again in Chapter 11, look toward the railing on the left and the Peng treasure is lying on the ground. It's a small gold trophy that you'll have to use Kinesis to get.YouTube: Dead Space: There's Always Peng!, Crackshot, & Z-Baller (Time: 4:05)

As noted above, you must use your Kinesis ability in order to retrieve the Peng treasure. The basic form of Kinesis won't be enough to grab the treasure. You'll need to upgrade the power at a workbench. The Kinesis ability is helpful throughout the game, not just for grabbing items for the purpose of an achievement. A good tip to know is that by pressing the fire button while you have an object lifted using Kinesis, you can hurl that object either at an enemy or far away from you.IGN: Dead Space Strategize