a colourful piece of cloth, attached by one edge to a rope, used as the distinctive symbol of a country or as a signal
pennant, symbol
Cases of word usage
1) a naval flag or banner; a naval officer of lowest rank (ensign)
2) something that marks or indicates something, e.g. a flag or post on a playing field (marker)
3) to place a camera, telescope, flag etc in position (set-up)
4) a long, narrow piece of paper, flag etc used as a decoration (streamer)