The aim of a fairway in golf is to hole the put out. The flag helps to spot the hole from afar. The ball is no longer hit at this point, but rolled into the hole over the grass.
The flag in hole emoji was introduced in 2009 and released as part of the Unicode 11.0 standard. This emoji can be found under the activities
category. Because the flag in hole emoji has been around for quite some time, it should display correctly in the majority of operating systems.