College pennants are a symbol of team pride and spirit. As decorations, pennants can be hung in a dorm room, office space or even in the car. Many campuses sell collectible pennants that can be purchased directly from the institution or from authorized dealers. However, with a few craft supplies, you can make your own custom pennants at home to keep or to give away as gifts.

Fold in half the wool-blend felt in the primary color so that it becomes a 5- by 20-inch rectangle. Carefully match up the edges so that the finished product is a symmetrical pennant.

Start at one corner of the felt rectangle and cut diagonally across using a pair of craft scissors. If you do not have a steady hand, first draw a straight line in pencil and then follow that with the scissors.

Unfold the remaining felt so that the triangle lays flat. Either discard the scrap felt or recycle it for use on another project.

Cut out big block letters from the accent felt and then glue them to the primary triangle. You can personalize the pennant to represent a particular college, team or player.

Arrange iron-on letters onto the triangle pennant to include a slogan or mascot's name. Be sure to adjust the iron's settings so that it will not burn the pennant or letters.