To my eye, these are just so pretty, of course reminding me of red and white diagonal color cube blocks, but able to be hung on the wall, and all the better for the aging to the cloth I think, including a few rust stains from the nails attaching them to the wooden handles. From what I understand, red and white diagonal flags like this are used to signify that someone is in the water, warning other boats nearby to take extra caution. And so, perhaps a nice pair to hang near the pool should one be so lucky! Their one time owner, Allen Smith, wrote his name on one corner on each of these, which certainly makes me love them all the more.
Flags themselves measure 16 7/8" x 16 7/8". Posts are 24" long. Beautifully showing their age and use, with one straight line tear near the bottom white corner of one and a round hole at the top red corner of the same, I don't think at all detracting. Both are well attached by nails to the posts. Sold as a pair.