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I understand the drama of a pose with the flag wrapped around an ensign but in terms of practicality, I want to substitute a paper flag for a plastic one.
GC's solution (above) is perhaps the best compromise. An alternate is to perhaps have the "Drama Ensign" but also include another figure with an open hand you could glue a metal pole & paper flag into & a separate weapon that you can use if you do not want to use the figure for flag-carrying purposes. A bit complicated I know.
I love the moulded flags as they look so much better and add a certain 'je ne sais quoi' to the figure and the command stand (when thinking wargaming, but I reckon they look better in a diorama too). I don't mind painting them and, in fact, a partially-furled flag is easier as it is 'disjointed' anyway.
If I am being all 'conciliatory and understanding', then I guess I can use a standard-bearer with a pole as I'd add some tin foil or such and make a flag that I can shape. Don't much like them paper ones meself....