When one player holds a banner, all banners of the same type (e.g. blue banner) show as the original banner whilst being held. For example, player 1 creates a blue banner and dyes it. Player 2 then creates a blue banner but does not dye it. While in hand, they both show as player 1's banner, but are different once placed.
Is this still a concern in the current Minecraft version? If so, please update the affected versions in order to best aid Mojang ensuring bugs are still valid in the latest releases/pre-releases. If this has been done, we can reopen the issue.
Keep in mind that the "Resolved"-Status on this ticket just means "Answered", and that we are waiting for further information on whether this issue still exists or not. We will reopen it as soon as the requested information has been delivered.