Remember that maxim about life imitating art? Palansky’s feature debut about a young blue-blood woman (Ricci) who—thanks to an old family mishap—was born with a pig’s snout has followed a similar trajectory to that of its titular character. Like its hog-nosed heroine, the film was shoved into the attic by parental units. Here’s where life and art start to go their separate ways. Thanks to McAvoy’s adorably scruffy Prince Charming, Ricci’s character eventually gets over her condition and an inner beauty is revealed. The much-postponed movie, however, isn’t so lucky. Its exile can actually be justified; this fairy tale is a genuine freight-train wreck. Straining to achieve what little whimsy it can muster, Penelope manages to screw up the oldest bedtime story in the book.