Progress Pride Flag was created in June 2018 by Daniel Quasar, artist from Portland, Oregon.  The design is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, with several additional requirements for commercial use, such as donating part of the profit from sales to a LGBTQ organization. 
In Quasar's design, rainbow stripes occupy whole width of the flag, while the other five colors form an arrow shape, based at the hoist and pointing towards the fly, which stands for progress.  The arrow shape consists of a white triangle next to the hoist edge, followed by four chevrons in pink (innermost), pale blue, brown and black (outermost), each of those as wide as half of the rainbow stripes' width. According to Quasar's instructions,  the endings of partition line between pink and pale blue chevrons shall be in the flag corners; however, the author himself does not respect this rule, for all the flag images throughout his website display the design with the endings of partition line between pale blue and brown chevrons being in the flag corners; [1,2,3] moreover, the flag photos at the online shop display the same,  as do all the currently known photos of flag use (below).
Not long after the creation of Progress Pride flag, there were comments about its similarities with the flag of Puerto Rico, and even more, the Puerto Rican Rainbow Flag which brought the suspicions that these similarities were exploited, with dubious benefits for the people the flag is supposed to represent. Part of reaction to that was the creation of the New Pride Flag by Julia Feliz, which was intended to represent the transgender and people of color in a less controversial way. In response to the accusations, Daniel Quasar has stated that any similarity is "entirely coincidental and unintenional." He also supported the creation of the New Pride Flag, saying: "The more flags, the more discussion, the better." Tomislav Todorović, 22 August 2020 Source: Gay Star News website: https://www.gaystarnews.com/article/new-pride-flag-trans-people-of-color/
A new version of the flag has been designed recently, to include intersex people, according to an 8 June 2021 article at them.us (https://www.them.us/story/progress-pride-flag-intersex-inclusive-makeover). The new design was created by intersex columnist Valentino Vecchietti and was officially adopted by the British advocacy group Intersex Equality Rights UK in May 2021. While I haven't been able to find any examples of this design being used yet in the wild, it is being sold on several flag and LGBTQ+ websites.
The new design adds the purple ring on yellow of the intersex flag to the Progress Pride flag's hoist, reducing the original white triangle to a white chevron, alongside the pink, light blue, brown, and black chevrons that already existed. Randy Young, 6 July 2021
The design has appeared on the handheld flags which were used in Vilnius, Lithuania, on 27 October 2021, at a meeting on the preparations for the upcoming Baltic Pride 2022 festival, which is to take place in Vilnius. The flags were displaying the pattern of the obverse only, the reverse being white, with the text announcing the event in black. Tomislav Todorović, 2 December 2021 Source: Lithuanian Gay League website: https://www.lgl.lt/en/?p=24540