I also used Alcohol Inks and some fabric paint because I used scrap clay. You could also just use different colors of clay, or use white clay and paint the flags.
Smush your clay together and start rolling it out into a sheet.
Condition the clay until it is nice and pliable. Roll it out with an acrylic roller, or on the pasta machine. I used the third thickest setting on my pasta machine.
I dabbed alcohol inks all over the clay. If you don't want to have purple and green fingers, wear gloves!
If you want your flags to all be the same size, you can cut a template out of card stock and then use it as a guide to cut your clay into triangles.
I wasn't really that picky, and I wanted some flags of different sizes, so I just eyeballed it. I also dabbed some of the metallic fabric paint on at this point, because what can I say? I like shiny things!
Wrap the top part of the triangle (the wide part) around a wooden dowel, or toothpick, or barbecue skewer. Make sure the clay sticks to itself, and that the dowel or toothpick will slide out.
Now bake your flags according to the manufacturer's instructions.
String them on your cord along with a couple of beads between each of the flags.
Tah Dah! Itty-Bitty Bunting!