Windows Platforms
On Windows platforms, download the Windows installer, then double-click the file.
Mac OS X Platforms
On Mac OS X platforms, download the Mac OS X installer (DMG), then double-click the dmg file to mount the disk.

After reading the EULA, you click Agree button

You can then drag and drop Penrose Studio folder to your Application folder.

Redhat/RPM
sh ./penrose-studio-1.2.X.X.rpm.bin
This will display EULA, you need to scroll down (press spacebar) all the way to the bottom page and type "yes"

An rpm binary will be produced, you will then execute this command to install it
rpm -ivh penrose-studio-1.2.X.X.rpm
The default installation directory will be under /usr/local/penrose-studio-1.2.X.X
Other Platforms
On other platforms, download the jar installer, then execute:
java -jar penrose-studio-x.x.x.jar
