My alliance flies this in Cyber Nations:
Vigilia Pretium Libertatis!
Black represents self-government and the responsibility required to maintain your Liberty against violence and authoritarianism. (Anarchy)
Yellow represents the freedom to associate, and engage in trade and industry, creating wealth and friendship through Liberty. (Capitalism)
Blue represents the principles of Liberty, and maintaining order through voluntarism. (True Justice)
The torch (typically White in a simpler design) amalgamates peace and our pursuit of non-aggressive solutions. (Peace)
The flame symbolizes the idea that the greatest gift we have is our freedom of choice, and that we should find common benefit in granting liberty to others, as we would want it for ourselves. (Freedom of Choice)
I found the snake and rifle design somewhere.. this was just a logo for an alliance merger:
in a previous alliance I was with, the FCC (Fifth Column Confederation (we like lots of irony, we had a 'Director' position like a communist state would)), this was the flag: