The limp-wristed dragon of mediocrity (Wales) is a close first because any incarnation of a dragon is freakin' awesome, but my favourite is probably the Svatsticka.
Let's ignore all Nazi connotations.
Let's ignore the fact that some people would say it's actually a political party flag, and was only a national flag for a very short time.
Let's keep in mind the fact that it's a good luck sign, in pretty much any Eastern religion, and that it symbolises good health, fortune, and kindness, and that a short, big-nosed guy with a bad moustache demonised it, forever tainting its image. Let's also keep in mind that it's been used to represent many countries that had little to no interaction with WWII.