In yellows and blacks,
He often lives on racks,
He loves none but Penny.
Hint:
a mascot
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In yellows and blacks
He is yellow and black (also white)
He often lives on racks,
Computer racks
He loves none but Penny.
Penny is his "female counterpart" according to wikipedia
Could it be:
Buzz the mascot of Georgia Institute of Technology
In yellows and blacks,
He's a yellowjacket
He often lives on racks,
The costume is often on clothes racks
From Georgia he could be,
the mascot of Georgia Institute of Technology
He loves none but Penny.
Something about BuzzCard?
My guess:
In yellows and blacks,
Army dress uniforms include yellow and black.
Their new PT uniforms are yellow and black.
Or their patch is yellow and black.
He often lives on racks,
Military jargon calls beds "racks"
From Georgia he could be,
Fort Benning, Ga is one of the Army boot camps though there are other locations.
He loves none but Penny.
Penny is one, of the many, many words for booze in the military.
OR it can refer to the "Guy who knows where the Penny drops" ie. whoever knows what is actually going on.
As an fyi, the military jargon for girlfriend is "Suzy" or "Suzy Rottencrotch" if she's seeing Jodie.
So your a
Soldier
Though in my case In red and blue and from San Diego I would be ;).
My answer:
Pete Penguin the mascot of Youngstown State University
In yellows and blacks,
The costume is mainly black (and white) with a yellow beak
He often lives on racks,
The costume is often on clothes racks
From Georgia he could be,
There's also a Youngstown Georgia
He loves none but Penny.
Penny is his penguin wife.
Yellowjacket. They're annoyingly common around here, and frequently make their nests up underneath any eave or 'rack' they can find.
Nasty little hostile buggers -- they literally love nobody and are very, very aggressive.