1. Phallic symbol, potency. 2. Honors in the ofﬁng. Also, click to see other meanings of this dream.Flag LibertyFlag A flag is an emblem of a nation and is given to draw attention to that particular country for prayer. A flag can also be a symbol of God’s love and protection for an individual, Ps. 60:4Pirate Flag Symbolic of an impending attack upon your life or another person’s lifeFlag To see a flag means peace of mind for the dreamer. A racing flag warns the dreamer to relax a little. A torn flag, shame because of a misdemeanor.