*Dusts off her Dictionary* Cough, cough *Puts on reading glasses*

Bunting (textile), a lightweight cloth material often used for flags and festive decorations

Oh wait there's more:

Today, "bunting" is a term for any festive decorations made of fabric, or of plastic, paper or even cardboard in imitation of fabric. Typical forms of bunting are strings of colorful triangular flags and lengths of fabric in the colors of national flags gathered and draped into swags or pleated into fan shapes.