This flag uses the original color scheme but inverted. The symbol is the Winged Ankh. A little reading of the Ankh: http://en.wikipedia.org/wiki/Ankh
The Ankh is the key of life, and the winged Ankh is the key to all life as in its power can fly over the domain of all life, unlike the Ankh which is wielded by the individual.
This flag in its meaning could ideally be used to represent many things. It could represent a political party, the military, a government agency, a sort of pact or union, a treaty, and so forth. It has many applications.
Anyone is free to use it as they like.
There is a little pixel scratchiness to it, especially on the Winged Ankh since it is made by hand. It did take a while to make the Winged Ankh as it is, but I may go back and fix it up.