Bill Ding cartoon

Somebody please tell me when a hyphen became punctuation. Somebody please tell me how a banner is relevant and why the artist felt compelled to draw an arrow to it.
As you will see later, Bill has a thing for flags and banners, but his true love is signs.
Rejected ad slogan:
Bill was a member of drill team
You will see in this demonstration
What's inside his crate-like body

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