http://en.wikipedia.org/wiki/Flag_of_South_Vietnam
In 40 AD, the yellow flag first appeared in the Vietnamese history when the Trung Sisters, waved the yellow flag to fight against the Chinese army to regain independence for Vietnam.

In 1802-1820, Emperor Gia Long, the yellow flag was also used as the symbol of the Vietnam.

In 1916-1925, Emperor Khai Dinh, the two red bands were added to the Yellow Flag to form the Long Tinh flag (Dragon Flag).

In 1945, during Tran Trong Kim's government that is called the Empire of Vietnam by Japan, the middle broken red band was added to the flag in the position between the two red bands of the former yellow flag to form the Quẻ Ly Flag. The Quẻ Ly Flag was the official flag of Vietnam at that time. Quẻ Ly is a divination sign of fabulous unicorn, sixth of the Bát Quái (the Eight Trigrams): Càn, Khâm, Cấn, Chấn, Tốn, Ly, Khôn, Đoài. This divination sign of fabulous unicorn represents the sun, fire, beam of light, and civilization. And more importantly, it also represents the direction of south, emphasizing that Vietnam, as the lands "passed the clouds" (see Yunnan) is southward from China.(See I Ching).

In 1948, when the former Emperor Bao Dai became the Chief of State of Vietnam, he ordered to change the broken red band (which was then the central element of the Vietnamese flag) into a continuous red band, and form the Yellow Flag with three yellow red bands.

On 2 June 1948, the Chief of the Temporary National Government of Vietnam, Brigadier General Nguyen Van Xuan, signed an Ordinance to specify the characteristics of the Vietnamese National Flag as follows: "The national emblem is a flag of yellow background, the height of which is equal to two-thirds of its width. In the middle of the flag and along its entire width, there are three horizontal red bands. Each band has a height equal to one-fifteenth of the width. These three red bands are separated from one another by a space of the band's height."

The three red bands have the divination sign of Quẻ Càn, the first of the Eight Trigrams mentioned above. Quẻ Càn represents heaven. Based on the worldview of Vietnamese people, Quẻ Càn indicates the South Sky, the Vietnamese Nation, Vietnamese people, and the people's power.

The flag was used by the Republic of Vietnam (more commonly known as South Vietnam) for the duration of that state's existence (1954 - 1975). It was abolished by Vietnamese government on April 30, 1975, when the South unconditionally surrendered to the North.

didn't know it got to do with Yin and Yang.

basically,

Heaven, the sky
Untiring strength, power
Horse
South



http://www.gotheborg.com/index1.htm?http:/.../trigrams.shtml

I dont like that flag. It represents a defeated regime; in other words, losers.
Hugging this flag is like bad losers.

No, no, not for me.

Vietnam needs to have a different flag. Vietnam will always be known as China's little b1tch to the south as long as it has that current flag.

So, you only like something thats a "winner"? 2

winner or loser, that flag goes pretty well with Vietnam since it means South(Nam).
and its creator was a Nho Giao(Tran Trong Kim) and thats what we expect from him.

The term "VNCH flag" is the reason I don't like this flag.