The Naval flag is simply the club's logo, as seen on their jersey, placed on a white field.
The Asociación Naval de Foot-ball was founded officially in 1944 as a wing of the Chilean Navy, an affiliation that was broken in 1991. The club's nickname is Choreros, which is a colloquial nickname for someone from Talcahuano. (In Mexican Spanish, the term "chorero" is slang for a liar).
Alex Garofolo, 2 February 2016