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water bottle
What is the strap on the bottle that says "water" called? Is it called a banner or a strap?

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    We would call it a label. – BobRodes Jul 13 '14 at 3:36
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I would call that a label:

a piece of paper, cloth, or similar material that is attached to something to identify or describe it
source: http://www.merriam-webster.com/dictionary/label

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    More specifically, if the label was made from shrunken plastic, it would be a shrink-wrapped label, and if it was glued on, it would be an adhesive label. Depending on the industry, some people put a lot of thought into this. – J.R. Jul 13 '14 at 8:22

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