Antarqueer is an unifying abbreviation for antarco-/antarcho-queer and antarca-/antarcha-queer, from the French/Neolatin anarqueer (queer anarchy/anarchism), standing for either queer anatarchism or queer antarchy. 

Antarchism means antigovernism, antarchy is the opposition to hierarchies. Both mixes the prefix ant(i)-, just as in Antarctic(a) opposing Arctic(o).

The flag resembles the pink triangle, which is a triangle down/inverted/lowered, one of the symbols of the holocaust badges, since it combines/duplicates two queer anarchist flags. Feel free to design another with queer chevrons or anything else related. – AP