1. a small banner or flag, especially one carried in a procession or used as a decoration
Usage: also spelled banneret; often used in ceremonial or festive contexts
2. a knight of a rank below a knight bachelor, historically entitled to carry a banner in battle
Usage: archaic; historical military term

Examples

• The parade featured colorful bannerettes hanging from every lamppost.
• She decorated the hall with small bannerettes in the school colors.
• Medieval bannerettes rode into battle under their own insignia.
• The festival used bannerettes to mark different sections of the fairground.
• Each team carried a bannerette during the opening ceremony.