Everybody knows about large flags and banners (e.g. national flags or advertising banners). But you can find a much smaller type of a flag and that is a pennant. The pennants usually have a triangular shape but sometimes they can be rectangular. Even though you see them not so often as big banners, anyway they are used very often almost everywhere. Even today, it is a quite frequent practice when two captains exchange their club pennants before a football match. Then these pennants are usually used at the general meetings or other sessions. Although, the Boy Scouts are not so common trend today as a few decades ago, the play pennants are still very popular.
Another application field is a shipping industry. A pennant can be a hazard signal, e.g. an illness on board or just to show that a ship comes back to the homeport after a long drive. Pennants are very popular among the mountain climbers. You can also find numerous pennants of different shapes and colors in the souvenir shops at the touristic resorts. Even amateur climbers use these pennants as a trophy for the completed tours.
The pennants are used as an additional element to big banners. Also, you can observe them at the shooting matches, or even the fire department uses special pennants. By the way, they can be a wonderful advertising medium. Do not give up the pennants because of its size!