The most common and most likely answer to this crossword clue is the 4 letter word EBBS
E
B
B
S
More clues leading to the result EBBS
- Led by boss, regularly put out flags
- Goes out with European babes regularly
- Declines, as Stanley and Beatrice lose their head
- Runs away from boarding house in El Salvador
- Leaders of England belittle British and Scottish flags
- Drops of ethanol burn brightly, shining on top
- Leader deposed by Jeb Bush oddly loses power
- Goes out seeing poor babe's missing area
- Goes out with bishops in half of dioceses
- Goes out with European babes occasionally
Buddy explains!

The straight part
We know that "flags" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case flags = ebbs.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does EBBS mean?
EBBS noun- The receding movement of the tide.
- A gradual decline.
- A low state; a state of depression.
- A European bunting, the corn bunting (Emberiza calandra, syns. Emberiza miliaria, Milaria calandra).
- To flow back or recede
- To fall away or decline
- To fish with stakes and nets that serve to prevent the fish from getting back into the sea with the ebb
- To cause to flow back.