It's called a "fleur-de-lis," which is French for "flower of the lily." It has been a symbol of the French monarchy since the 12th century, and in America it is often used as a symbol for communities (like New Orleans) that were founded by the French.
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The Fleur-de-lis is a stylized flower (translated from French as lily) and is the official logo of the city of New Orleans - the team adapted the logo to identify it with the city.