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Li'l Penguin Lost is the second mission of Cool, Cool Mountain. The star spawns in a different location on the Japanese version than all other versions.
In order to have Mario launch off of each slope and make it all the way across the gaps, you need to be holding the direction he is sliding as he leaves the slope.
Regarding Pingu Trick, if you jump too late once you hit the ground after the slope and lose your speed (as demonstrated here in the tutorial), back it up by doing a couple of big, prolonged jumps to the mother penguin, rather than several shorter jumps.
This trick allows Mario to drop the baby penguin before speaking to its mother, skipping the animation of him setting it down and preserving his speed.
