diff --git a/Lib/test/test_peg_generator/test_pegen.py b/Lib/test/test_peg_generator/test_pegen.py
index d912c55812397d..0387b9395611b0 100644
--- a/Lib/test/test_peg_generator/test_pegen.py
+++ b/Lib/test/test_peg_generator/test_pegen.py
@@ -1106,3 +1106,49 @@ def test_deep_nested_rule(self) -> None:
         )
 
         self.assertEqual(output, expected_output)
+
+    def test_rule_flags(self) -> None:
+        """Test the new rule flags syntax that accepts arbitrary lists of flags."""
+        # Test grammar with various flag combinations
+        grammar_source = """
+        start: simple_rule
+
+        simple_rule (memo):
+            | "hello"
+
+        multi_flag_rule (memo, custom, test):
+            | "world"
+
+        single_custom_flag (custom):
+            | "test"
+
+        no_flags_rule:
+            | "plain"
+        """
+
+        grammar: Grammar = parse_string(grammar_source, GrammarParser)
+        rules = grammar.rules
+
+        # Test memo-only rule
+        simple_rule = rules['simple_rule']
+        self.assertTrue(simple_rule.memo, "simple_rule should have memo=True")
+        self.assertEqual(simple_rule.flags, frozenset(['memo']),
+                        f"simple_rule flags should be {'memo'}, got {simple_rule.flags}")
+
+        # Test multi-flag rule
+        multi_flag_rule = rules['multi_flag_rule']
+        self.assertTrue(multi_flag_rule.memo, "multi_flag_rule should have memo=True")
+        self.assertEqual(multi_flag_rule.flags, frozenset({'memo', 'custom', 'test'}),
+                        f"multi_flag_rule flags should contain memo, custom, test, got {multi_flag_rule.flags}")
+
+        # Test single custom flag rule
+        single_custom_rule = rules['single_custom_flag']
+        self.assertFalse(single_custom_rule.memo, "single_custom_flag should have memo=False")
+        self.assertEqual(single_custom_rule.flags, frozenset(['custom']),
+                        f"single_custom_flag flags should be {'custom'}, got {single_custom_rule.flags}")
+
+        # Test no flags rule
+        no_flags_rule = rules['no_flags_rule']
+        self.assertFalse(no_flags_rule.memo, "no_flags_rule should have memo=False")
+        self.assertEqual(no_flags_rule.flags, [],
+                        f"no_flags_rule flags should be the empty set, got {no_flags_rule.flags}")
diff --git a/Tools/peg_generator/pegen/c_generator.py b/Tools/peg_generator/pegen/c_generator.py
index fa75174ea0d59d..ffa73a64f21cfe 100644
--- a/Tools/peg_generator/pegen/c_generator.py
+++ b/Tools/peg_generator/pegen/c_generator.py
@@ -595,7 +595,7 @@ def _set_up_rule_memoization(self, node: Rule, result_type: str) -> None:
         self.print(f"{node.name}_raw(Parser *p)")
 
     def _should_memoize(self, node: Rule) -> bool:
-        return node.memo and not node.left_recursive
+        return "memo" in node.flags and not node.left_recursive
 
     def _handle_default_rule_body(self, node: Rule, rhs: Rhs, result_type: str) -> None:
         memoize = self._should_memoize(node)
diff --git a/Tools/peg_generator/pegen/grammar.py b/Tools/peg_generator/pegen/grammar.py
index cca8584a632071..d3c2eca6615a9f 100644
--- a/Tools/peg_generator/pegen/grammar.py
+++ b/Tools/peg_generator/pegen/grammar.py
@@ -58,11 +58,11 @@ def __iter__(self) -> Iterator[Rule]:
 
 
 class Rule:
-    def __init__(self, name: str, type: str | None, rhs: Rhs, memo: object | None = None):
+    def __init__(self, name: str, type: str | None, rhs: Rhs, flags: frozenset[str] | None = None):
         self.name = name
         self.type = type
         self.rhs = rhs
-        self.memo = bool(memo)
+        self.flags = flags or frozenset()
         self.left_recursive = False
         self.leader = False
 
@@ -135,7 +135,6 @@ def __repr__(self) -> str:
 class Rhs:
     def __init__(self, alts: list[Alt]):
         self.alts = alts
-        self.memo: tuple[str | None, str] | None = None
 
     def __str__(self) -> str:
         return " | ".join(str(alt) for alt in self.alts)
@@ -263,7 +262,6 @@ class Repeat:
 
     def __init__(self, node: Plain):
         self.node = node
-        self.memo: tuple[str | None, str] | None = None
 
     def __iter__(self) -> Iterator[Plain]:
         yield self.node
diff --git a/Tools/peg_generator/pegen/grammar_parser.py b/Tools/peg_generator/pegen/grammar_parser.py
index 2e3a607f7209b0..4fa2739270773f 100644
--- a/Tools/peg_generator/pegen/grammar_parser.py
+++ b/Tools/peg_generator/pegen/grammar_parser.py
@@ -147,12 +147,12 @@ def rules(self) -> Optional[RuleList]:
 
     @memoize
     def rule(self) -> Optional[Rule]:
-        # rule: rulename memoflag? ":" alts NEWLINE INDENT more_alts DEDENT | rulename memoflag? ":" NEWLINE INDENT more_alts DEDENT | rulename memoflag? ":" alts NEWLINE
+        # rule: rulename flags? ":" alts NEWLINE INDENT more_alts DEDENT | rulename flags? ":" NEWLINE INDENT more_alts DEDENT | rulename flags? ":" alts NEWLINE
         mark = self._mark()
         if (
             (rulename := self.rulename())
             and
-            (opt := self.memoflag(),)
+            (flags := self.flags(),)
             and
             (literal := self.expect(":"))
             and
@@ -166,12 +166,12 @@ def rule(self) -> Optional[Rule]:
             and
             (_dedent := self.expect('DEDENT'))
         ):
-            return Rule ( rulename [0] , rulename [1] , Rhs ( alts . alts + more_alts . alts ) , memo = opt )
+            return Rule ( rulename [0] , rulename [1] , Rhs ( alts . alts + more_alts . alts ) , flags = flags )
         self._reset(mark)
         if (
             (rulename := self.rulename())
             and
-            (opt := self.memoflag(),)
+            (flags := self.flags(),)
             and
             (literal := self.expect(":"))
             and
@@ -183,12 +183,12 @@ def rule(self) -> Optional[Rule]:
             and
             (_dedent := self.expect('DEDENT'))
         ):
-            return Rule ( rulename [0] , rulename [1] , more_alts , memo = opt )
+            return Rule ( rulename [0] , rulename [1] , more_alts , flags = flags )
         self._reset(mark)
         if (
             (rulename := self.rulename())
             and
-            (opt := self.memoflag(),)
+            (flags := self.flags(),)
             and
             (literal := self.expect(":"))
             and
@@ -196,7 +196,7 @@ def rule(self) -> Optional[Rule]:
             and
             (_newline := self.expect('NEWLINE'))
         ):
-            return Rule ( rulename [0] , rulename [1] , alts , memo = opt )
+            return Rule ( rulename [0] , rulename [1] , alts , flags = flags )
         self._reset(mark)
         return None
 
@@ -219,17 +219,28 @@ def rulename(self) -> Optional[RuleName]:
         return None
 
     @memoize
-    def memoflag(self) -> Optional[str]:
-        # memoflag: '(' "memo" ')'
+    def flags(self) -> Optional[frozenset [str]]:
+        # flags: '(' ','.flag+ ')'
         mark = self._mark()
         if (
             (literal := self.expect('('))
             and
-            (literal_1 := self.expect("memo"))
+            (a := self._gather_2())
             and
-            (literal_2 := self.expect(')'))
+            (literal_1 := self.expect(')'))
+        ):
+            return frozenset ( a )
+        self._reset(mark)
+        return None
+
+    @memoize
+    def flag(self) -> Optional[str]:
+        # flag: NAME
+        mark = self._mark()
+        if (
+            (name := self.name())
         ):
-            return "memo"
+            return name . string
         self._reset(mark)
         return None
 
@@ -661,8 +672,38 @@ def target_atom(self) -> Optional[str]:
         self._reset(mark)
         return None
 
+    @memoize
+    def _loop0_1(self) -> Optional[Any]:
+        # _loop0_1: ',' flag
+        mark = self._mark()
+        children = []
+        while (
+            (literal := self.expect(','))
+            and
+            (elem := self.flag())
+        ):
+            children.append(elem)
+            mark = self._mark()
+        self._reset(mark)
+        return children
+
+    @memoize
+    def _gather_2(self) -> Optional[Any]:
+        # _gather_2: flag _loop0_1
+        mark = self._mark()
+        if (
+            (elem := self.flag())
+            is not None
+            and
+            (seq := self._loop0_1())
+            is not None
+        ):
+            return [elem] + seq
+        self._reset(mark)
+        return None
+
     KEYWORDS = ()
-    SOFT_KEYWORDS = ('memo',)
+    SOFT_KEYWORDS = ()
 
 
 if __name__ == '__main__':
diff --git a/Tools/peg_generator/pegen/metagrammar.gram b/Tools/peg_generator/pegen/metagrammar.gram
index f484c4781823bc..cae91ab9c4165b 100644
--- a/Tools/peg_generator/pegen/metagrammar.gram
+++ b/Tools/peg_generator/pegen/metagrammar.gram
@@ -50,19 +50,21 @@ rules[RuleList]:
     | rule { [rule] }
 
 rule[Rule]:
-    | rulename memoflag? ":" alts NEWLINE INDENT more_alts DEDENT {
-          Rule(rulename[0], rulename[1], Rhs(alts.alts + more_alts.alts), memo=opt) }
-    | rulename memoflag? ":" NEWLINE INDENT more_alts DEDENT {
-          Rule(rulename[0], rulename[1], more_alts, memo=opt) }
-    | rulename memoflag? ":" alts NEWLINE { Rule(rulename[0], rulename[1], alts, memo=opt) }
+    | rulename flags=flags? ":" alts NEWLINE INDENT more_alts DEDENT {
+          Rule(rulename[0], rulename[1], Rhs(alts.alts + more_alts.alts), flags=flags) }
+    | rulename flags=flags? ":" NEWLINE INDENT more_alts DEDENT {
+          Rule(rulename[0], rulename[1], more_alts, flags=flags) }
+    | rulename flags=flags? ":" alts NEWLINE { Rule(rulename[0], rulename[1], alts, flags=flags) }
 
 rulename[RuleName]:
     | NAME annotation { (name.string, annotation) }
     | NAME { (name.string, None) }
 
-# In the future this may return something more complicated
-memoflag[str]:
-    | '(' "memo" ')' { "memo" }
+flags[frozenset[str]]:
+    | '(' a=','.flag+ ')' { frozenset(a) }
+
+flag[str]:
+    | NAME { name.string }
 
 alts[Rhs]:
     | alt "|" alts { Rhs([alt] + alts.alts)}