I'm from the North, but I have many relatives in the South. Where they live, it is a symbol of cultural pride (unless you're not a white person). Where I'm from, it is a symbol of racism.
It's all about the culture you're from. Different cultures see things differently. So, if you're from an area where a lot of people sport confederate flags, you'll be perfectly fine and accepted if you do so as well. However, if you go to another place (primarily in the Northern states), people won't like it.