A term used in a derogatory manner to refer to companies and groups who show very shallow forms of patriotism or support for a cause. The term refers to the fact that the groups see little beyond an opportunity to save face by waving around the American flag.
Flag-waving surged following the terrorist attacks of September 11, 2001. Everywhere, from the local Exxon station to the commercials of the Florida Tourist Board, you see the American flag. Near Carnegie Mellon University in Pittsburgh, even the local gay bar traded in their rainbow flag for an American flag. While patriotism is not bad, it becomes marginalized when everyone starts waving flags without any sort of message behind them.