OK charm fans, here's a quiz.  What do the charms pictured above symbolize?
a.  School pennants of the Big Eight Ivy League schools.
b.  Flags of nations that won Olympic gold medals in synchronized swimming.
c.  Signal flags that spell "I Love You."

The romantic sailors among you correctly chose item c.  The popularity of bracelets sporting enamel pennant alphabet flags has waxed and waned since about 1920.  Signal flag bracelets spell out a short phrase or name --- I own an example that pays tribute to Marilyn.  The bracelet pictured is made of sterling silver, but brass and gold examples also exist.  So the next time you see one of these graphic beauties, google "signal flags" and decode away.