This is a multicolour striped party flag bunting. 

It consists of triangle flags with various coloured vertical stripes (pink, yellow, green, red, and blue). 

The flags are typically made from materials like PVC or paper, making them durable and often reusable for indoor or outdoor parties. 

They are used to add a festive touch to celebrations such as birthdays, holidays, or general gatherings. 

Available in various lengths and flag counts, they can be hung across walls, fences, or doorways.