Banners (decorative)

Banners are decorative furniture items that can be placed on the underside of blocks (you can also get banners from enemys). Many are found naturally-placed in various biomes. There are also four crafted Banners (red, green, blue, and yellow).

Faction Flags are Banners found in Dungeons. In post-Plantera worlds, the Faction Flags found hanging in a particular Dungeon area correspond to the background wall type (brick, slab, or tile), both of which signify the types of enemies that will spawn there. See Dungeon for more info.

There are currently a total of 22 decorative Banners: 4 crafted, 6 Faction Flags, 3 Floating Island, 6 Underworld, 3 Pyramid.

Faction Flags
These are Banners found placed in the Dungeon.

Trivia

 * Each banner may be placed in a right- or left-facing orientation, but this is decided by which tile column in the world the banner is placed in. Placing it one block to the left or right will flip the orientation.
 * The four craftable banners correspond to the team colors in multiplayer.
 * The Spike Ball only spawns in areas marked by the Marching Bones Banner.
 * The Gravity Banner seems to resemble the Gravitation Potion's buff icon.

History
Bannières (décorative) Знамя