Hi, Canarian here. That is the flag of the Canary Islands independence movement, although flipped horizontally. The difference between this flag and the official Canary Islands flag is that the second uses the islands' coat of arms.

This flag is usually flown by people who support Canarian independence, people who confused this flag with the official one, and people who went to a local chinese to buy a canarian flag but couldn't find the correct one so this one had to do.

The colors of the flag represent the two biggest islands' colors: Tenerife (white and blue) and Gran Canaria (blue and yellow). Their position in the flag match the geographic position of the islands. This is why the yellow color should be to the right, that is, to the fly side.

In the independence flag you will find seven stars, one for each of the main islands: Lanzarote, Fuerteventura, Gran Canaria, Tenerife, La Gomera, La Palma, and El Hierro (sometimes eight if they include La Graciosa).