Hehehe! Your "flags on strings" are called bunting!
Bunting, it's called bunting! Although I think bunting's a british word. I like what you like too. Especially doughnuts.
I think it's called bunting on this side of the pond, too. I love it!
here, we call it banderitas =Dkaya
I made some of my own its really easy... you can just cut triangles from magazines and glue them to the string