Problem: How to downgrade your site gracefully for non-flash browsers such as the iPhone. The iphone is nice enough to show you a icon in place of the flash content so you’re aware that something is not displaying correctly on the page. However, this can get in the way of a good design.
Here’s the help page from Adobe going over how to use it;
Alternative Content for SWF
In case that page is ever taken down, here is the link to the zip file with the examples of how to use the object.