Quoting the "Home for Caribbean Entertainment" website:
The Caribbean Peoples' Flag was unveiled in New York on Saturday, May 13 . The ceremonies were held at Restoration Plaza, Skylight Amphitheater. A competition to create a single Caribbean Peoples' Flag was conceived by Austin Tuitt, founder/innovator of the Global Caribbean Representation (GCR). The competition was open to everyone of Caribbean heritage and 21 artists/designers entered and competed for the honor of winning the grand prize of $5000.00 and the GCR certificate. Richie Richardson was declared the winner of CPF and was awarded the winner's certificate and a cheque for $5000.00.
The flag is shown on the source website as horizontally divided light blue-dark blue with a grey-blue dove in the middle, surrounded by 27 yellow stars forming an arch and two orange incomplete arches. The motto "By Our Peoples' Will From Grassroots Up" is written in light blue letters below the dove.
A few days later, Richie Richardson himself gave the meaning of the flag on the "Home for Caribbean Entertainment Website":
Blue is the canvas of the Caribbean, where the sky merges seamlessly with the sea at the horizon. The stars are representative of the 27 nations that comprise the diversity of the Caribbean inhabitants. Golden yellow stars are symbolic of the optimism and luminescence that is characteristic of the people. The orange arch depicts the tropical sun…the warmth and vivaciousness that is ever present in the Caribbean spirit. The dove is the epitome of love and compassion, it captures the freedom, harmony and peacefulness of the region. It was the first sign Columbus saw on his maiden voyage to the New World, confirming that life and land was near.
Incidentally, very similar to the Caricom flag, and the orange sun is reminiscent of the old West Indies Federation flag.