The Dragon Banner also called as the banner of the Lord of the Morning, or the banner of Lews Therin Telamon. The original one was used by the Dragon when he led the forces of the light against the Shadow during the War of the Shadow.
"A long, white banner spread out, lifting on the air. The whole thing seemed of a piece, neither woven, nor dyed nor painted. A figure like a serpent, scaled in scarlet and gold, ran the entire length, but it had scaled legs, and feet with five long, golden claws on each, and a great head with golden mane and eyes like the sun. The stirring of the banner made it seem to move, scales glittering like precious metals and gems, alive, and he [Rand] almost thought he could hear it roar defiance." 
"It was all of one piece, neither woven, nor dyed, nor painted. A banner, white as snow, big enough to be seen the length of a field of battle. And across it marched a rippling figure like a serpent scaled in gold and crimson, but a serpent with four legs, each tipped with five golden claws, a serpent with eyes like the sun and a golden lion's mane." 
Appearances of the Banner
The original banner recovered from the Eye of the World is first carried by Moiraine to Fal Dara, then she sent it to Rand by Ingtar allowing only to be given to Rand when they first camp south of the Erinnin.  Rand uses it at Falme when the Horn of Valere is blown by Mat. The heroes come for the sound of the Horn but must follow the Dragon Banner and the Dragon. After Falme, Moiraine takes it to the Mountains of Mist and it stands in the middle of the camp where they spend the winter . It is also Moiraine who takes it to Tear, following Rand and after the Stone falls, it is displayed on top of the Stone of Tear. 
-"Surprising what you can dig out of books if you read long enough, isn't it?" - Rand al'Thor
Mat brings "Rand's banner" to the Last Battle and gives it to Dannil who holds it when the Heroes arrive, only that it seems to be the one with the Aes Sedai symbol called as "Rand's Banner". Despite that the Heroes accept it. 
Mat carries the Aes Sedai symbol "Rand's banner" wrapped up in a small bundle, under his arm, and he wants to take it to Shayol Ghul, but when they fly on the back of a Raken with Olver, he loses it. Olver says it's not a problem since the whirling clouds on the sky look like the Aes Sedai symbol, so they are beneath his banner already – and he blows the Horn.
It is unknown what happened with the original Dragon Banner after Rand's death.
By the description of its look and the fact that thousands of years passed leaving no mark on its material, the Dragon Banner may have been created with the One Power or with a ter'angreal similar to the Warder's cloak. .
- ↑ The Eye of the World, Chapter 52
- ↑ 2.0 2.1 The Great Hunt, Chapter 11
- ↑ The Eye of the World, Chapter 53
- ↑ The Great Hunt, Chapter 49
- ↑ The Dragon Reborn, Chapter 56
- ↑ A Memory of Light, Chapter 5
- ↑ A Memory of Light, Chapter 37
- ↑ A Memory of Light, Chapter 39
- ↑ A Memory of Light, Chapter 45
- ↑ The Great Hunt, Chapter 47