Pennants rhymes with:
lieutenants, tenant's, tenants, tenants', complainants, components, consonants, contaminants, continent's, continents, covenants, determinants, exponents, lieutenants, opponent's, opponents, opponents', proponents, remnants, subcontinents, tenant's, tenants, tenants'
Pennants sounds like:
paints, pandas, pandick, panetta's, pantex, panties, pantoja, pants, pantuso, pantyhose, pavements, payments, peanuts, pentax, pentech, penthouse, penthouses, pentz, phonetic, phonetics, pinetta's, pint-size, pints, piontek, piontkowski, pneumatic, pneumatics, point's, points, pond's, ponds, poniatowski, pont's, pontes, pontiac, pontiac's, pontiacs, pontikes, pontious, pontius, ponts, pound's, poundage, pounds, puentes, pundits, punts