Abstract: A multi-flag marching baton formed from an elongated tubular sleeve within which an elongated member is telescopically received. There is a space between the inside wall surface of the tubular sleeve and the outer surface of the elongated member to form an annularly shaped flag storage chamber. A strap passes along the outside length of the tubular sleeve and has its opposite ends attached adjacent one end of the elongated member. A first display flag is secured to this strap. A second display strap is secured to the elongated member. When the elongated member is telescopically withdrawn from one end of the tubular sleeve, the second flag will be withdrawn from the flag storage chamber within the tubular sleeve and unfurled for display while at the same time the first display flag that is attached to the strap will be drawn into the opposite end of the tubular sleeve and its flag compressed into the flag storage chamber.