Thanks, Zaid. This flag is purely decorative. It was taken at the little carnival I shot for several evenings last month. There were flags of many different colors, but some were harder to isolate, or the light had faded.
I used the title "raising a red flag" as a pun. The expression in English means to issue a warning. Maybe it comes from when sailors used flags to communicate among ships? However, this is a completely apolitical flag. It was just there to flap in the breeze and look pretty.