Originally two threads by Thande and Magnificate that were merged together, in imitation of the Map Thread. The two threads' demographics largely overlap. Flag Thread II was started May 5, 2009 and since then, there have been two more. The latter is currently active.
Roster of Flag Threads
Flag Thread I - The first iteration, begun as a merging of two threads by Thande and Magnificate. First post listed as March 8th, 2006. Closed due to having to many messages. Closed on May 5, 2009.
Flag Thread II - The second iteration, begun by Ian the Admin on May 5, 2009. Closed due to a new thread, and the fact it was 534 pages long on September 29, 2011.
Flag Thread III - The third iteration, begun on September 29, 2011 by TheDarkMessiah and closed by CalBear on April 1, 2014. (Trust us, that wasn't an April Fool's.)
Flag Thread IV - Opened by PiratePartyist on April 1, 2014. The first Flag Thread not started by a mod or admin. Unlike the first map thread begun by a non-moderater, there was no arguement. Baconheimer had the second post, meaning he had the second post in two consecutive flag threads.