All sorts of flags appear in the 1980s classic, over the rainbow type of adventure - Labyrinth 1986.
David Bowie is the Goblin King. A Goblin with a red helmet pennon is seen in front of the King. Also note the king carries a crystal ball staff.
Here the Scare Crow, Tin Man, and Cowardly Lion with Toto look longingly at our heroine. Oops, I meant the Cranky Hobbit with a heart of Gold, the Brave Tiny Humanoid Dog ,and Friendly Magical Hairy Oger, and the Shaggy Dog, Merlin.