Vyacheslav Ivanovich Polunin (Slava Polunin) was born on June 11, 1950, in Novosil, Orel province, USSR. Young Polunin was obsessed with the image of Charley Chaplin. He imitated Chaplin at school performances and also developed a wide range of other comic characters during his school years. Polunin was a popular participant at many school festivals and competitions. After graduation from high school Polunin moved to Leningrad. There he founded the clown-mime theatre 'Litsedei' in 1968. He dropped out of college of Economics, then studied at the Leningrad Institute of Culture from which he graduated in 1977. Then he studied and graduated from the State Institute of Theatrical Art (GITIS) in Moscow. He regarded Yuriy Nikulin, Marcel Marceau, Arkadi Rajkin , and Leonid Yengibarov as his teachers.

Polunin shot to fame in the USSR after his 1980 TV performance of 'Asisyai', a sketch-parody of a telephone conversation between two lovers. In Leningrad he led the clown-mime theatre 'Litsedei' for over 20 years. Under his directorship 'Litsedei' became the most popular pantomime show in the USSR and then in Russia. He organized and led the Mime-Parade of 1982, which gathered over 800 pantomime artists of the Soviet Union. In 1989 Polunin became one of the founders of "Caravan of Peace" International Festival of Street Theatres. Polunin and his clown-mime theatre 'Litsedei' performed their show in Tiergarten, West Berlin, before the opening of the Berlin Wall in 1989. Polunin was among the founding members of the Academy of Fools and became its president.

From 1986 Polunin has been touring worldwide with his troupe 'Litsedei'. His amazing "Snowshow" became one of the most highly regarded achievements in the contemporary theatre. It is a comedy, a fairytale, a mystery, and an interactive show that amused audiences around the world. It was performed in over 50 cities to more than one million spectators. Polunun was awarded the Laurence Olivier Prize for his 'Snowshow', which was acclaimed as the best theatrical show of the year (1998). He received prizes from the British Critics Association, from the 'Time-out' magazine, and also received other awards for his works. He was made the Honorary resident of London.

In 2001 Polunin organized the New Carnival within the framework of the World Theatre Olympics, in the Hermitage Gardens in Moscow. There he brought some of the best acting mimes of the 20th century, such as Bolek Polívka, Django Edwards, Jérôme Deschamps, Franz-Joseph Bogner, Leo Bassi, and others. Polunin continues his collaboration with artist Mikhail Shemyakin for the annual carnivals in Venice, Italy.

Vyacheslav Polunin has three sons. He lives with his wife and children in London and has a home in Russia.