Here is the newspaper article about the presentation of these flags that I was talking about. The Jefferson Guards flag is presently on display in the Jefferson County, Ark. Historical Museum, being recovered and restored some 25 years ago. However the Article states that TWO blue flags were presented and there arrises the question of what was the blue flag that was presented to cleburne's regiment.

[LITTLE ROCK] WEEKLY ARKANSAS GAZETTE, June 1, 1861, p. 2, c. 6

Presentation of Banners to the Jefferson Guards—Patriotic Compliments from abroad.—

The patriotic ladies of Pine Bluff, to manifest their esteem for that noble band—the "Jefferson Guards"—from this city, and now stationed at Mound City, above Memphis, proceeded to that place, and presented the Company with two beautiful flags to fight under in the glorious struggle for Southern independence. The Memphis papers are filled up with extended and glowing accounts of the two occasions, which attracted large crowds of ladies and gentlemen of Memphis, and the surrounding vicinity. We have only time for making short extracts of complimentary notices from people abroad toward the fair ones from Pine Bluff who had the honor of presenting the banners, also the compliments paid to the popular and brave Captain of the Company.

Miss Etta Bocage presented a beautiful banner, the work of her own hands, on Wednesday the 15th inst. The Memphis Evening Argus pays the following handsome compliment to the fair donor, and Capt. Carlton:

The fair donor of the flag, Miss Bocage, daughter of Judge Bocage, of Pine Bluff, is one of the loveliest women upon whom it has been the good fortune of those present to gaze for a time whereof the mind runneth not to the contrary. Tall, dark eyed and dark haired, graceful in every movement, it was not surprising that the soldiery greeted her with so much joy and enthusiasm. The flag was of fine blue silk, most elegantly wrought and decorated, containing the name of the company for whom it was designed, and other inscriptions not visible from the portion of Arkansas upon which we were standing. The presentation speech was appropriate, eloquent and brief, and every word seemed accompanied by that correctness which bespoke that the fair speaker was only expressing the patriotic emotions of the heart in the words which fell from her lips.

Capt. Carlton, as brave and handsome a soldier as can be found in any corps, received the beautiful gift in behalf of his company, and responded in a few words, which, at once earnest, and most eloquent, were well received. Judge Bocage stepped forward and presented, as the gift of Mr. Dubois, an absent member of the guard, an ensign's belt for the flag. Nine hearty cheers were then given—three for Miss Bocage, three for the absent member, and three for Capt. Carlton.

On Thursday the 16th inst., Miss Lillian T. Rozelle, in the name of the ladies of Pine Bluff, presented a confederate flag to the Jefferson Guards, to be presented to the Arkansas Regiment at Mound city, commanded by Col. Cleburne. The Avalanche thus speaks of the occasion, giving Miss Rozelle's speech:

"About 8 o'clock the entire battalion was put in motion for the purpose of participating in the ceremonies. They marched to the hotel in all "the pomp and circumstance of glorious war." The bristling bayonets and the general paraphernalia presented an imposing appearance. Each company was composed of stalwart men—soldiers strong in bone and muscle and nerve, and still stronger in hope and faith. The troops were drawn up in front of the stand erected for the occasion. So soon as the Jefferson Guards marched up, Miss Lillian T. Rozelle, of Pine Bluff, arose and delivered the following beautiful address:

Address to the Jefferson Guards—Our beloved Countrymen:--We greet you to-day to present your brave band with this banner, arranged by the ladies of Pine Bluff—those dear to your hearts and firesides.

With souls ripe in loyal patriotism we strive with happy willingness, sparing no toil or labor in endeavoring to make the offering, this flag, to wave o'er the glorious and gifted sons of Jefferson, and that with every breeze may be wafted endless chimes of your honor, valor and glory. Our hands have made it; your hearts must defend it.

You go, brave ones, to struggle in the dearest cause an American heart has at stake—the rights of this hallowed land of the South! Remember "it was liberty, not Union, for which our forefathers fought." And now that your own cherished State has bared her bosom to breast the storm, struggle for her! retain her a bright constellation in the brilliant galaxy of Southern States.

Not the aggressors, but the wronged, you secure the smiles of an all-wise and just God, who will extend his eternal arm for your protection. Let the sacred motto be inscribed on every heart, "Honi soit qui maly pense," or "Evil be to him who evil thinks of it." This banner we consign to your care, with prayers and tears sent up to Heaven's throne in your behalf, by them who daily cry, "Our hearts are with you." Accept our farewell and last injunction:

Oh! shield the bright South! this beautiful land,

Sacred and dear to your own loyal land;

Her winds sang your cradle hymns gently and low,

And tuned were your hearts to her brooklets and flow.

And now that the foe with despotic sway,

Seeks to tear all her glory and wealth away,

Nerve you strong hearts! to the rescue go on,

'Till silenced the storm and bright battles won.

There, too, the heart of true woman will go

To smile in your joy and soothe in your woe.

When laurels the brightest your brows shall entwine,

Her soul's hymns for you shall witchingly chime;

Then, on brave ones, ever on in the right,

God your defender will save you from blight.

The graceful and modest demeanor with which Miss Rozelle discharged the duties imposed upon her won all hearts. Her address is short, but in exquisite taste. Her articulation was clear and distinct; and her emphasis and intonation showed that she felt while an actor on the occasion. As we listened to her inspiring words, the lines of a noble bard flashed across our memory:

"The light of love, the purity of grace,

The mind, the music breathing from her face."

At the close of the beautiful address, three cheers were proposed for Miss Rozelle, which were given with an enthusiasm and stentorian voice that showed how much each soldier was inspired.

Capt. Carlton, a gallant soldier and true gentleman as ever flashed a sword, receiving the flag in a neat and appropriate speech, and, after receiving it, he presented it to the 1st Regiment. Col. P. R. Cleburne received it [with] an able and eloquent speech of some length, in which he promised that it should never be dishonored. The speech of Col. Cleburne was appropriate and well delivered. He was loudly cheered by his fellow soldiers."