
Om Mani Padme Hung In Tibetan Script
Tibetan Buddhists believe that saying the mantra (prayer), Om Mani
Padme Hung, out loud or silently to oneself, invokes the powerful
benevolent attention and blessings of Chenrezig, the embodiment of
compassion. Viewing the written form of the mantra is said to have
the same effect -- it is often carved into stones
and jewelry and written on scrolls
inside prayer wheels that pilgrims
turn day and night.
The translation is roughly Hail to the Jewel In the Lotus. The Jewel
in the lotus is said to be the jewel of compassion held by Chenrezig.
So the mantra is a prayer for compassion.
As you can see there are many prayers on each
flag. This is just a sample of the prayers that may be on each flag.
Each wooden stamp is hand carved by a Tibetan artisan. Prayers include
Tara 'Om tara Tu Tara Ture Soha'
Chenrezig 'Om Mani Padme Hung' and many others

The 8 auspicious symbols in their combined form
(Tasi Tagge)
Right-coiled
white conch
The white conch which coils to the right symbolizes the deep, far-reaching
and melodious sound of the Dharma teachings, which being appropriate
to different natures, predispositions and aspirations of disciples,
awakens them from the deep slumber of ignorance and urges them to
accomplish their own and others' welfare. Precious
umbrella The precious umbrella symbolizes the wholesome
activity of preserving beings from illness, harmful forces, obstacles
and so forth in this life, and all kinds of temporary and enduring
sufferings of the three lower realms, and the realms of men and gods
in future lives. It also represents the enjoyment of a feast of benefit
under its cool shade. Victory banner The
victory banner symbolizes the victory of the activities
of one's own and others' body, speech and mind over obstacles and
negativities. It also stands for the complete victory of the Buddhist
Doctrine over all harmful and pernicious forces. Golden
fish The golden fish symbolizes the auspiciousness of all
living beings in a state of fearlessness, without danger of drowning
in the ocean of sufferings, and migrating from place to place freely
and spontaneously, just as fish swim freely without fear through water.
Wheel The golden wheel symbolizes
the auspiciousness of the turning of the precious wheel of Buddha's
doctrine, both in its teachings and realizations, in all realms and
at all times, enabling beings to experience the joy of wholesome deeds
and liberation. Auspicious drawing
The auspicious drawing symbolizes the mutual dependence of religious
doctrine and secular affairs. Similarly, it represents the union of
wisdom and method, the inseparability of emptiness and dependent arising
at the time of path, and finally, at the time of enlightenment, the
complete union of wisdom and great compassion. Lotus
flower The lotus flower symbolizes the complete purification
of the defilements of the body, speech and mind, and the full blossoming
of wholesome deeds in blissful liberation. Vase
of treasure The treasure vase symbolizes an endless rain
of long life, wealth and prosperity and all the benefits of this world
and liberation.