This article is from the Mongolia FAQ, by Oliver Corff with numerous contributions by others.
The Mongolian flag consists of three bands, red, blue, and red, of
equal width. In the left red band there is the national symbol, called
Soyombo. Its history dates back to the 17th century AD to the creation
of the Soyombo script by Zanabazar (see also the paragraph on
Mongolian writing below).
The three-tongued flame on top symbolizes the nation's past, present
and future prosperity (this and the following paragraph quoted from:
This is Mongolia, Ulaanbaatar 1991), sun and crescent, immediately
below the flame, are old Mongolian totems. The two triangles in the
upper and lower part tell about the people's determination to uphold
their freedom and independence. The rectangles and walls stand for
strength, uprightness and honesty. The Yin-Yang symbol in the center
is interpreted in two ways: some see the unity of pairs of natural
elements, fire and water, earth and sky, man and woman; others see two
fishes standing for continuous movement since fishes neever sleep as
they cannot close their eyes.
In 1924 the first Great People's Hural (National Assembly) decided to
crown the symbol with a 5-pointed star which was abolished with the
new constitution of 1992.
 
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