I loaded them into a top loader and then used Velcro (Hook and Loop for you prior military folks) disks to attach them to the wall. It allowed me to easily change the pennants with very little work, didn't put a hole in the wall or your toploader, and looked nice. You can strategically place the disks so you don't see them when displayed.
http://www.staples.com/Velcro-Sticky...duct_SS2710154