The flag of Paraguay, represented by the emoji 🇵🇾, features three horizontal stripes of equal width. The top and bottom stripes are colored red, while the middle stripe is white. In the center of the white stripe, there is a blue emblem known as the "Coat of Arms of Paraguay." The coat of arms consists of a yellow five-pointed star surrounded by a green wreath, with a red Phrygian cap on top. This flag represents the national identity and history of Paraguay, symbolizing courage, liberty, and independence.