Thank you, gentlemen! ))
Well, speaking of small flags - streamers, if I'm not mistaken - they're quite easy to make.
1. Take a lenght of ordinary paper for printers, some 0,7cm wide. Draw a long dividing line with a pencil. Paint one half blue, second part white (I like to paint white paper white

). Highlight, if you like)
2. Now you have long two-colored stripe op paper. Cut it in 3cm pieces.
3. Apply some super glue to the short edge of your future streamer, coat roughly 0,5cm of paper length with it. Press it to the top of the lance and twist around it, until no glue-coated space is visible.
4. So, now you have nice rectangle-shaped streamer. Most interesting part: take your girlfriend's small manicure scissors and make deep "V" shaped cut in your streamer. Voila!
5. Bend tails of the streamer the way you like it. Spray some satin varnish for durability.