You are looking at many coloured flags

They are common kind of prayer flags.
This flag has at its central image a horse bearing three flaming jewels on its back. This horse, known as a 'wind-horse' lends the flags their Tibetan name, 'lung-ta'. The three jewels symbolise the Buddha, the Buddhist teachings and the Buddhist community.
http://cres.anu.edu.au/~mccomas/prayerflag.html

Created by xiii, last updated 30 Mar 2008