Wikipedia: European flag

The flag of Europe is twelve golden stars in a circle on a blue background. Although the flag is most commonly associated with the European Union, it is used by the Council of Europe as well, and represents Europe as a whole as opposed to any particular organization such as the EU or the COE.

The flag was originally adopted by the Council of Europe on December 8 1955. The Council of Europe from the beginning desired it to be used by other regional organizations seeking European integration. The European Community adopted it on May 26 1986. Since then the use of the flag has been controlled jointly by the two organizations.

External link:

http://europa.eu.int/abc/symbols/emblem/graphics/graphics_en.htm gives the graphical specifications for the European Emblem