Most of these flags, if not all, are personalized. The material used, even the design and printing type vary from one college flag to another. So it really all depends to the college or institution. There are, at the same time, flags in various shapes and styles. Because of this, a college flag should not be considered as simply boring pieces flapped by the wind.
Schools make use of these flags for many reasons. First, college flags are for advertising purposes. If you want to attract more enrollees, a college flag should be among your weapons. If you want more people to know more about your school, you should check on college flags.