A flag for Svalbard? Svalbard is a part of Norway. But Svalbard is partially in league of the New World, since it was permanently awoken to the Western World long after the discovery of the Americas. In fact it was, in a Christopher Columbus sense, discovered by the Dutch - Willem Barentz in 1596. The ancient Norse people had a foggy grasp of this island but couldn't hold on to its discovery until after the Dutch put it on the map. Eventually all the northern nations of Europe had at one time or another set up camp - Russia, Germany, Norway, and the UK. Svalbard was under intense Soviet Colonization, which has subsequently faded.
But it wasn't until after WWI that this diverse Isle of Northern Europe was attached to Norway. Thus this flag is based upon the flag of Norway but with the blue and white colors in an opposite position. The pattern of Russia's flag is also included to a lesser extent. as the pattern of white, blue, and red can accidentally be discerned.
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Photo Credit: Per Harald Olsen – User Perhols on no.wikipedia, Nordspissen av Prins Karls Forland, Svalbard