noun
pennant
PEN-unt/ˈpenənt/
A small narrow flag that tapers toward its end.
The narrow pennant tapers to a point beyond its simple team emblem.

Etymology
Pennant probably arose through blending or confusion of pendant, a suspended rope, and pennon, a long narrow flag. Its sporting use developed from a flag symbolizing a championship.
In context
they would fly a pennant for each ship sunk by the end of 1940
More examples
- She hangs a triangular college pennant above her desk.
- Colorful pennants stretch across the street for the parade.
- The crew raises a narrow pennant to signal another boat.
Forms
pennant · pennants