Bosnian here. Our current flag was drawn up on the request of Carl Bildt, a former Swedish PM and EU Representative in Bosnia and Herzegovina, and it has no historical significance whatsoever. The majority here don't identify with it. I have no idea where they got the colours but the triangle is supposed to represent the three constitutive ethnicities and the triangular shape of our country. The real Bosnian flag, which was used by the pro-Bosnian forces during the war, has a white background and our most famous ruler's, king Stephen (Stjepan) Tvrtko, coat of arms in the middle. It's similar to the one used in 15th century; 6 golden lilies and a white stripe:
http://upload.wikimedia.org/wikipedia/co...
http://static.klix.ba/media/images/vijes...
Montenegrin flag resembles the one they had in 19th century, during the Kingdom of Montenegro. Later, under the influence from the neighbouring Serbia, they changed it to a typical Slavic tricolor. Once they regained independence they went back to the old flag. The golden double-headed eagle is from king Nichola's (Nikola Petrovi?) coat of arms. He also picked the red colour, probably as a symbol of all the blood that was shed in the battles against the Ottomans.
Macedonian flag is based on the one used in ancient Macedonia. They had to remove the Vergina Sun symbol because the Greeks complained.
Edit: BTW if you're interested in flags check out this site: http://vexillology.reddit.com
Flag design is notoriously localized. For example, the current Montenegro flag has elements of other historical Montenegro flags which were themselves adopted from various regional coats of arms and colors. The double eagle on red is from the pre-WWI era. It's likely that their pride in being separate from Serbia is what drove the flag redesign from the 20th century tricolor, which resembled the Serbian flag (and, it should be noted, the Russian flag). The Bosnia-Hercegovina and Macdeonian flags are highly stylized and also particularly different from their earlier incarnations. It's likely that they felt they needed "rebranding" after being a part of Yugoslavia, something that Croatia and Serbia didn't feel the need to do.
Hi I am from Serbia and I agree with Sen...
Btw, red, blue and white in any order (I think, or maybe in blue - white - red order) is a Pan Slavic flag, Czech Republic also has this colors, as well as Slovakia, Slovenia, Russia, Serbia, Croatia,...
So do a heap lot of non-slavic countries.
http://www.historyofmacedonia.org/Macedo...