There is a current and ongoing theory that the Penguin in the Gotham television series is actually The Joker. Robin Lord Taylor plays a version of Oswald "Penguin" Cobblepot that fans have theorised - for various reasons - could actually turn out to be the Clown Prince of Crime. Taylor himself has stated that he sees it as very unlikely, but admits he doesn't 100% know what might end up happening with his character. He has, however, also admitted to being very impressed by the intricacy of some of the theories:
I read it, and I was like, Huh, I was like, Nah. But then I was like, you know, so impressed at the detail that this person went into I was just amazed at the amount of attention that people are paying to the show. I mean, he was looking at the colours of my vest and my suit, and extrapolating off of that.
Reasons behind the theory include the aforementioned colours of his clothing, the fact he is rather gangly as opposed to the Penguin's usual rotund physique, and the fact that the show tends to introduce its villains in ways that are very different from the comic books.