[perezfan]

It will look better if you trim off the hanging/loose portion, and get it to resemble a point at the end. This one is actually a good candidate for that, as you can easily envision the end product with a better (albeit not perfect) tip. Many examples are not conducive to trimming.

Take it a little at a time, as you don't want to be too hasty. Nothing wrong with doing that, as long as you disclose it, when it comes time to sell. Pennant collectors typically do not want altered items... So you'd be doing this simply to approve its appearance and please yourself. Altering it for resale (without proper disclosure) borders on sleazy seller territory, IMO.

Great pennant... A classic! As for politically incorrect, I'd still put some of those Big Nose Wahoo Indians Pennants and Screaming Braves wielding a Tomahawk ahead of it.