A pennon or pennant is a flag that is larger at the hoist than at the fly. It can have several shapes, such as triangular, tapering or triangular and swallow-tailed. Bunting (or bunt) is any festive decorations made of fabric, or of plastic, paper or even cardboard in imitation of fabric. Typical forms of bunting are strings of colorful triangular flags and lengths of fabric in the colors of national flags gathered and draped into swags or pleated into fan shapes.
Often awarded for sporting events, from youth sports to professional level athletics. Tangible, durable reminder of a specific achievement, and serves as recognition or evidence of merit.