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For a mercenary army not related to any existing GW fluff. The name I've settled on is the Dark Star Alliance.
I'm torn on which one to choose so figured I'll see if there is a clear favourite among random strangers.
The black circle will have white squad markings in it so it will be broken up.
This decal will be about the size of Space Marine shoulder pad decals when printed on decal paper just as a point of reference.
The background colour will be either white or green.

The one on the right is my fav. Post some pix if you get a chanve when you add them to a unit.

The far right one is the clearest and easiest to make. The little feathers on the right have a risk of disappearing in midst of other details, and the middle one has too much gaps.

I hope our words helped you.

Left one.