The Collaborative International Dictionary of English v.0.48:

Pencel \Pen"cel\, n. [See Pennoncel.]
   A small, narrow flag or streamer borne at the top of a lance;
   -- called also pennoncel. [Obs.] --Piers Plowman.
   --Chaucer.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Pennoncel \Pen"non*cel`\, Pennoncelle \Pen"non*celle`\, n. [OF.
   penoncel. See Pennant.]
   A small pennon borne on a lance. See Pencel. [Also spelled
   penoncel.]
   [1913 Webster]

WordNet (r) 3.0 (2006):

pennoncel
    n 1: a small pennant borne on a lance [syn: pennoncel,
         penoncel, pennoncelle]