pennant
n.a small flag that a team or country flies to show they have won a competition. It is usually a smaller version of the main flag.
n.a small flag, often triangular, awarded to a team or nation to signify victory in a competition. Frequently used in sports contexts to distinguish a champion from other participants.
“The team raised its pennant after winning the championship.”
“The local museum displays a collection of pennants from every major league that the city's team has ever won.”
“While the national flag remains a symbol of the country's sovereignty, the pennant serves as a more immediate and tangible marker of athletic achievement on the international stage.”
From Middle English penon, penoun, pynoun, Old French penon, French pennon, from Latin penna (“feather”). See pen (“a feather”), and compare pennon, pinion.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.