Bhutan a Buddhist country rarely uses Buddhist flag. It is due to late introduction of Buddhist flag to the world. People of Bhutan were not familiar with this important flag. Being a Buddhist country the flag need to be hoisted as it is directly related to Buddhism and its founder the Great lord Buddha.
Note that the flag that dole all over the country are not Buddhist flag. These are Mani, Dolma, Lungta and lhadhar flags.
The Buddhist Flag was invented in 1952 at the World's Second Buddhists' Fellowship Conference, which was held in Japan. Bhutan couldn't attend the conference. The flag was invented to symbolize the special features of Buddhism.
Its six colors were taken from the rays, which radiated from the Holy Body of the Buddha immediately after he attained enlightenment under the Bodhi Tree at Buddhagaya in India.
The six colors are:
1. Blue: signifying the concept of loving kindness and peace in Buddhism.
2. Yellow: signifying the Middle Path, that is, the complete absence of form and emptiness. A mind free from greed, anger and ignorance.
3. Red: signifying achievement, wisdom, virtue, fortune and dignity.
4. White: signifying purity, emancipation that the Dharma will always exist regardless of time or space.
5. Orange: The essence of Buddhism, which is full of wisdom, strength and dignity.
6. The combination of these five colors symbolizes that it is the one and only Truth.
The horizontal bars signify peace and harmony between all races through out the world while the vertical bars represent eternal peace within the world.
In simple terms, the Buddhist Flag implies that there is no discrimination of races, nationality, areas or skin color; that every living being possess the Buddha Nature and all have the potential to become a Buddha.
Please make small Buddhist flag and place it at your alter. I have brought one from Saravatu (UP), a place where Buddha stayed for 25 years and placed at me alter.