It all depends on which flag it is flying along side:
For flying with flag other than a different nation's flag:
"If the flagpoles are the same height, the American flag should be placed in a position of honor, which is the extreme left, as the flags are most frequently viewed. If there are multiple flagpoles with the center flagpole in taller height, the American flag would fly on the taller, more prominent flagpole.
When the flags are flown from adjacent staffs, the American flag should be hoisted first and lowered last. No such flag or pennant may be placed above the flag of the United States or to the flag's right."
For flying with the flags of other nations:
"When flags of two or more nations are displayed, they are to be flown from separate flagpoles at the same height. The flags should be approximately equal in size. International usage forbids the display of the flag of one nation above that of another nation in time of peace.
The American flag should never been on the same halyard as another nations flag. When the flags are flown from adjacent staffs, the American flag should be hoisted first and lowered last."
Taken from:
http://www.americanflagsforsale.com/american-flag-etiquette.aspx
-Matt
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