Psyonix has outlined their goals as far as player banners are concerned in Rocket League, which were introduced as rewards during Season 5. This was to give players the opportunity to be recognized for their achievements on a competitive level without having to rely on customization slots being attached to a Garage Preset. This way, unlike the previous rewards such as boosts, toppers and wheels, you can now keep your car looking exactly how you want it to without having to worry about changing it to facilitate one of the previous rewards.
The banners aren’t mandatory either, so don’t feel like you have to display them on your account. Those who choose to play in Competitive Playlists will receive a Dragon-themed player banner at some point, but there is no need for you to display them on your account should you not want to.
The other banners that are found in the Autumn Update will not be tied to anything specific, and are to be treated like any other available Customization options. The banners set out to give off a cool and funny vibe, or at least catch the eye of your fellow peers whilst playing Rocket League, should you choose to decide to show yours off.