Those are the referee's penalty flags which they toss on the field when an infraction is detected.
The "team wants a review" handkerchief is red and is thrown onto the field from a team sideline when a team demands a referee review a replay.
Have you seen the NFL's red flags (handkerchiefs) that they throw on to the field so the referees know that the team wants the play reviewed by the head referee. It must be done before the next snap of the ball (hike of the ball) so the decision is decided before another play is run.