The usual British pronunciation is [jun-ter] to rhyme with hunter. It is increasingly common to hear the pronunciation [hoon-ter], which sounds like a Northern British pronunciation of hunter, and is an approximation to the original Spanish pronunciation. This is the usual US pronunciation.
The wingless dragon holds jewels in its claws to represent prosperity. Saffron yellow symbolizes the power of the monarchy. Orange-red stands for Buddhism. Effective date: c. 1971.