'lizscrofani' did one in Designs by Cuties of the alphabet and one flag that is blank. These are pointed like pennants and I believe are 5X7. They are very nice.
Sorry but I'm not sure what a 'dive flag' lookes like, but I guess it is for when a person is diving with gear on, in the ocean.

Googled and found two 'dive flags'; which of these are you interested in having made?
BTW, I'm just trying to help but (sadly, do not digitize).

Number 2 is what I'm looking for..
Thank you for helping

TTT; (to the top). I'm sure that someone out there would be able to help you.