A Goggle search University Riflemen yield these interesting sites. An image search within show two of their flags.

University Riflemen
http://library.furman.edu/specialcollections/furman/university-riflemen.htm

The University Riflemen Head to War
http://historyengine.richmond.edu/episodes/view/5021

2d SC Regiment of Cavalry
Company K - Brooks Troop, Greenville District
http://www.schistory.net/ironscouts/articles/k.html

Furman University
By Courtney L. Collision

See page 86
http://books.google.com/books?id=Qed1lmdzZrYC&pg=PA86&lpg=PA86&dq=%22University++Riflemen%22&source=bl&ots=deJMy_Csr-&sig=WLAJARsJ8HSyrv2pYehqHr9fs6k&hl=en&sa=X&ei=9aBfVLnMHNLXoASwg4LQCg&ved=0CDsQ6AEwBg#v=onepage&q=%22University%20%20Riflemen%22&f=false