Vatican City State
Who & why: on 11 February 1929, Pope Pius XI and Benito Mussolini's Kingdom of Italy sign the Lateran Treaty, ending the 59-year Roman Question by creating a new, deliberately tiny sovereign state — 0.49 square kilometers around St. Peter's Basilica — in exchange for the Holy See formally recognizing the Kingdom of Italy and renouncing any claim to the former Papal States. It remains the world's smallest internationally recognized sovereign state, governed by the pope as an absolute elective monarchy.
What it represents: the yellow-and-white bicolour with the crossed keys under the papal tiara, first raised on 8 June 1929 after the Lateran Treaty according to the Holy See and Flags of the World (Wikipedia gives 7 June). The Holy See dates the yellow-white colours to 1808 and the oldest surviving yellow-white papal flag to 1824, so the flag descends from the 19th-century papal flag rather than from thirteen centuries of unchanged symbolism.
Holy See Press Office (vatican.va): the Lateran Treaty of 11 February 1929 led to the flag's present form, and the modern flag was first raised on 8 June 1929, yellow and white with the crossed keys surmounted by the tiara at the centre. Flags of the World: flag adopted 8 June 1929 (introduced 1825) and arms adopted 7 June 1929; the modern flag first officially hoisted on 8 June 1929. Wikipedia's infobox gives 7 June 1929.
- Flag of Vatican City — Wikipedia compiled
- Vatican City — Flags of the World (CRW Flags) compiled
- La storia della bandiera (Holy See Press Office) — Holy See Press Office (vatican.va) reference
- Vatican (Holy See) historical flags (FOTW) — Flags of the World (CRW Flags) compiled
Not established: The adoption day is 7 June on Wikipedia and 8 June on the Holy See and FOTW pages; the page's remark that the 1929 flag is almost unchanged from the last Papal States flag is not stated by the sources, which date the yellow-white colours to 1808.