"Penny loafers are classic slip-on shoes adorned with a distinctive strap across the vamp, often featuring a small decorative slot or cutout. These timeless footwear options combine comfort and style, making them a popular choice for both casual and semi-formal occasions. The iconic penny slot on the strap gave these loafers their name, as it was traditionally used to hold a penny for good luck or as a fashion statement. With their versatile design and enduring appeal, penny loafers have become a staple in men's and women's wardrobes alike."