Scene is from Wallace and Gromit - The Wrong Trousers. Music Used: Banjo-Kazooie Nuts & Bolts - Mumbo's Mountain Donkey Kong 64 - Fungi Forest Mine Cart
Personally, I think that "pop quiz: how long's it take to beat a moron to death?" would have been a better line than "Come on, Tough guy!", but maybe there wasn't enough time for the whole line to go there.
I've seen this sequence so many times and I JUST realized that Wallace stealing the gun was pointless, because the penguin had already fired six shots and couldn't reload because he had the diamond in his other hand.
If the revolver had eight cylinders, *three* would be visible on each side with one at the top and bottom. Likewise, if it had seven, we could see *two and a half* on the side, leaving a distinct vertical asymmetry. At around 0:30 we can see the revolver clearly and it has exactly *two* cylinders on the side, and room for only one each at the top and bottom, so it must be a conventional six-shooter. However, as mentioned above, he did indeed fire seven shots, from which we can conclude that, much like the Spy himself, he was carrying a speed-loader, and reloaded the gun offscreen. (Or maybe the production team decided that accurate portrayal of firearm capabilities wasn't necessary to the story and the gun was purely a narrative tool. 😉)
Although the penguin is seen taking off a red glove right before being revealed to be a Spy, so that'd mean it would be a BLU Spy instead. This would also be coherent with the blue locomotive that the penguin Spy rides.