By the way, the idea of using a peg to hold in a cord like that is neat, but I haven’t seen any evidence that the holes in the pinch flaps were used for that purpose. It’s an idea, and a small pin could serve to stop the cord blowing away at ignition, but cords burn constantly and need to be moved forward with every shot. A locking pin for carrying then, to prevent misplacement or loss of one’s match cord?
Many serpentines do not even have holes there. There is also a theory that they were to allow air to permeate the cord, helping to keep it alight. Or were they simply decorative?
Anyway just something to think about, as the answer is not yet clear. We’ve had this discussion before. The answer must be out there somewhere.