1. Actions or behaviours that suggest sorrow or regret for a serious transgression: “Every religion promises the sinners a bright and happy future if they do penance for their evil deeds.”
2. A sacramental rite involving contrition, confession of sins to a priest, the acceptance of penalties, and absolution: “The astrologer suggested to her to perform the rite of penance by fasting for at least fifteen days without break.”
Pennants, on the other hand, has the following meanings:-
1. Nautical flags used for identification and signalling: “As the pennants of the ship were not visible because of the storm in the sea, efforts were made to contact the captain on wireless.”
2. Flags often associated with a champion or winning sports team: “The pennants of the American baseball champion team were red and black.”
3. Flags or banners that taper to a point at one end: “The college ground was decorated with colourful pennants on the annual sports day.”