The below is something I've been experimenting with for
Fashions Made Sacred.
This is the flag of the República Española, usually called the Republic of Spain in English, which was formed in the early twentieth century after the expulsion of the last Habsburg monarch from the peninsula. Spain is a plutocratic republic, where only property owners may vote, and in which the legislature - the Cortes Generales - is dominated by powerful guilds and large companies, which are themselves dominated by a broad class of wealthy regional political families.
The flag sits upon a blue bar representing the open water, where Spain has historically been dominant; resting on either side are a very traditional Spanish symbol, the Pillars of Hercules, which represent the gates of the Mediterranean Sea into the Atlantic Ocean. The traditional crowns upon the pillars in historical royal Spanish coats of arms have been replaced with Phrygian caps - though asymmetric ones, which reflects the crowns being traditionally asymmetric in the royal coats of arms.
The central symbol is a republican reimagining of another traditional symbol of Spain - the Yoke and Arrows (which, OTL, is often associated with the Falange, but the symbol dates back to the fifteenth century -- "Yoke and Arrows" is, in 15th century Spanish, a cypher for the Catholic Monarchs (el yugo y las flechas -> Ysabel y Fernando)). The specific number arrows represents the sixteen regions of Spain, historically 'kingdoms': Algeciras, Aragón, Castilla, Córdoba, Galicia, Gibraltar, Granada, Islas Canarias, Jaén, León, Mallorca, Murcia, Navarra, Sevilla, Toledo and Valencia. The Yoke has been intentionally simplified down to its most basic form, as though to shed it of its original 'crowning' adornments.
Also imprinted on the flag, in great letters, is the national motto of Spain - and, yes, I know, this is generally considered poor flag design, but it's supposed to seem like an actual flag. The motto is based on the historical Spanish motto
Plus ultra, meaning "Further beyond". The full motto,
Hispania plus ultra, is intended to imply "Spain and further beyond", though this is not what it actually means in Latin.