At last, got rid of that ugly B and put my countrys flag. Looks good, eh?
The problem was actually getting someone to host .ico files. No normal image hosting would allow me to host .ico files, because practically - they aren't really images.
After hours of searching, I finally found Ripway, which would host any type of file. I then had to turn my png into a ico file, so I went to this good site. And finally, I added this code to my template:
<link href='url_to_ico_file' rel='shortcut' />
Try it out if you want.