Yeah, but 'brag flag' has a nice ring to it.

Participation flags are an interesting twist. Perhaps more of a pendant (or whatever you call those long, slender flags), which would differentiate them (and take up less halyard space) from the "trophy flags"

I've got about 4 MKL flags, and they are currently strung across my wall at home while the boat's in storage.

Dave's flag setup is really cool, and I do believe it attracts interest from other sailors (both mono and multi, rec and racer). Pretty soon, he'll have to run some flag halyards from the spreaders to the rudders... Or attach them to a secondary jib or spin halyard...

I really like those with interesting design. Sort of like the burgees you see in yacht clubs... Much more interesting than 'bowling trophies'...