Flags say a lot of things about the event. It is also what it stands for a country. A shipping line has its own (even a pirate too!). A business company usually will have its pennant strings made especially if it has something to do with selling cars or real estate. A town fiesta (like in the Philippines) will never start without first pinning appropriate pennant strings. You will see them being installed across the streets and the length of the roads, depending on the scope of the fiesta being held a few days later.
In car races, automotive flags are usually seen. You get to see which team is supporting when people wave their own flaglets. It makes people happy and like some drug, it elates the inner being. It has positive result.
The next time you want to get noticed positively, even if it is just a birthday party or an environmental awareness, make use of those flags.
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