So, we stepped it up a notch with my assistant by throwing in a flag and moving one of the lights.
For the light setup, I went with the octagon softbox up front and a speedlight in back with a regular reflector on pointed directly facing the back of the subject. This was to bring out the flag given the way we were using it for this photo session.
Initially, my subject and then subjects were just posing with the flag in various ways, but then got the flag to fly up. There is no complicated trick to this. I simply had one of my subjects grab the other end and gentle toss it up into the air and gravity did the rest of the work. I timed my shot and after a few attempts I had a subject wrapped in one end of the flag with the other end flying in the air. Light positioning helped but if you did this outside during the day, you might have an easier time.
Remember, you can do things with the props you have, just consider what they normally do and try and do something along those lines. Nothing we did here is new or groundbreaking, but the shots turned out and that means they can turn out for you too.