Personally I like pyrozen's last one best, it could easily go anywhere, since it isn't restricted to going where there is a square edge. Also
love that you have the 'T' in the centre of the 'A', excellent idea.
I think I might do one of these with that pink graffiti you see on the wall in Wall Market; although I'd spell AVALANCHE properly
I don't mind if someone wants to beat me to it, either
EDIT:Something like this, only better; I don't have any good graffiti fonts.
EDIT2:should the flag be a bit more rectangle since flags generally are rectangles (just a thought)
Like this, but better, since I'm no good at this stuff I'm just throwing up ideas and hoping people improve :p
<imaged removed due to embarrassment :p>
You can see where the terrible editing is here lol, I've just coloured over the edges where I didn't want that grainy effect(for a bit of texture on the flag).