Today the flags of the two major nations of the Iberian Peninsula fly in recognition of a friend of mine who recently traveled there.
The largest nation of the Iberian Peninsula is Spain. Originally adopted in 1785, the current Spanish flag was adopted in 1981.

The other major nation on the Iberian Peninsula is Portugal. Its flag was adopted in 1911.

The other two nations on the Iberian Peninsula are the Andorra and the British Overseas Territory of Gibraltar.