The 142 Mimico Flag Party with Arms is a team of 3 or 5 cadets who have the honour of carrying the Squadron flags. The mission of this team is to be the elite of the squadron. Excellence is demanded of drill, dress and deportment. The Flag Party marches onto the Parade Square every Parade night in front of the rest of the Squadron and are therefore looked up to by the younger cadets.

There are two flags in the Flag Party; the Squadron Banner and the Canadian Flag. The Canadian Flag is carried by the Flag Party Commander. There are three escorts, two armed and one unarmed. The team usually learns two routines; one routine commanded and where the team remains an intact Flag Party and a silent routine where the Flag Party separates and performs an intricate and silent drill routine.

The Flag Party learns specialized rifle drill and flag drill that are used on a regular basis and some more advanced movements that are used only in the silent routine for competition and demonstrations.

All cadets are encouraged to come try out for the Flag Party including first years. You never know, you may find your calling in the Squadron!