Penelope \p(e)-nelo-pe, pen(e)-lope\ as a girl's name is pronounced pen-NELL-a-pee. It is of Greek origin, and the meaning of Penelope is "weaver". From "pene". Mythology: Penelope, wife of Odysseus, fended off suitors by weaving during the day and unraveling at night a tapestry she said had to be completed before she would wed another husband. The name has come to signify a loyal, capable, and clever woman. The name is also possibly derived from the Greek name "penelops" for a kind of duck that was said to have rescued and nurtured Penelope when she was exposed to die as an infant. Model Penelope Tree; parenting expert Penelope Leach; actresses Penelope Ann Miller, Penelope Cruz.