Meaning of checkered flag

check'ered flag'

Pronunciation: [key]
— (in automobile racing)
  1. a flag having a pattern of black and white squares, used to signal that a car has crossed the finish line and completed its race.
  2. this signal indicating the first car to cross the finish line or the winner.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.