Italy Pace Da Tutti i Balconi Flag.
This seven-stripe version of a rainbow flag was first utilized in Italy during a 1961 march for peace. It had been inspired by other multicolored flags used in previous demonstrations in favor of nuclear disarmament.
In 2002, in protest of the impending Iraq War, it quickly became associated with the Pace Da Tutti i Balconi or the "peace from every balcony" movement wherein the Italian word PACE, (PEACE) was displayed prominently across the flag. The flag has since spread worldwide as an international peace flag and variations are numerous; some add additional stripes while others insert the word for peace in the appropriate national language.
It should not be confused with the six-stripe gay pride rainbow flag made popular in the United States in the 1980s.
Provenance: Acquired by purchase in Italy in 2002.
ZFC Collectible Flag
Sources:
Rainbow flag, Wikipedia, 1 May 2012, from: http://en.wikipedia.org/wiki/Rainbow_flag
Peace Flag, Wikipedia, 1 May 2012, from: http://en.wikipedia.org/wiki/Peace_flag
Pace Da Tutti i Balconi, The Age of Aquarius, 1 May 2012, from: http://aquariandog.blogspot.com/2006/07/pace-da-tutti-i-balconi.html
Image Credits:
Zaricor Flag Collection