I was watching a documentary about contemporary art and at one point they were showing Yoko Ono and John Lennon singing "Give peace a chance". They were singing with a group of people while in the background I saw slogans like "hair peace" and "bed peace". As odd as it sounds, I think it's cute. Yes, I was aware about their honeymoon protest, but to me it just didn't make sense.
Anyway, this version of American flag is the extension of that song.