Pennant/ˈpenənt/ Definition 1 of 3Pro Tip 1/3Sports Identity A pennant symbolizes team identity and pride in sports contexts. Fans waved their team's pennant during the game. Pro Tip 2/3Celebratory Symbol Pennants often represent celebration or victory in tournaments and championships. The stadium was adorned with pennants after the championship win. Pro Tip 3/3Nautical Tradition In maritime settings, pennants have specific meanings related to ship signals and hierarchy. The yacht displayed a club pennant during the regatta.