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pennant

pen·nant

pennant

 
pronunciation:
pe nnt
part of speech: noun
definition 1: a long, tapering, usu. triangular or forked flag used on ships for signaling or for identification.
definition 2: any flag that is shaped like this, esp. one that bears the name of a college, other school, or athletic team.
similar words:
banner
definition 3: the annual championship, or the flag symbolizing it, in a professional baseball league.
Our team is hoping to win the pennant.