BANNER TOWING ACFT DROPS BANNER. IT FALLS WITHIN 50 FT OF AN SMT TWIN AWAITING TKOF.

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I WAS TOWING BANNERS FROM RWY 26 AT DOWNTOWN ISLAND IN KNOXVILLE; TN. OUR PICKUP AND DROP AREA WAS BTWN THE TXWY AND THE RWY AT THE APCH END. THE WINDS HAD BEEN CONSISTENTLY AT 240 DEGS ALL DAY WITH GUSTS. TURB HAD BEEN RPTED BY VARIOUS PLTS ON THE APCH THROUGHOUT THE DAY. DROPPING ON RWY 26 WITH THE WINDS AT 240 DEGS; THE BANNERS HAD BEEN TAILING TO MY R; TOWARD THE RWY. THE TWR CLRED ME TO DROP WHILE I WAS CLOSE IN DOWNWIND IN FRONT OF A TWIN ON 3 MI FINAL. (THIS WAS MY 7TH DROP.) I WAS CONCERNED WITH THE POSSIBILITY THE BANNER MIGHT DRIFT ONTO THE RWY; SO WAS FAVORING A DROP TOWARD MY L. A TWIN SMT WAS AWAITING DEP ON RWY 26. THE WINDS IN THE MEANTIME; HAD QUICKLY GONE VARIABLE 240 DEGS TO 310 DEGS. THE INCOMING TWIN RPTED 'MODERATE TO SEVERE CHOP' (WHATEVER THAT IS). IN ANY CASE; MY RIDE WAS ROUGH AND WHEN I RELEASED; THE BANNER INITIALLY DRIFTED R; WAS CAUGHT BY A GUST AND TAILED OFF TO MY L; LNDG 30-50 FT FROM THE TWIN (AT AN APPROX 40-50 DEG ANGLE TO THE RWY). HINDSIGHT SAYS I SHOULD HAVE REFUSED PERMISSION TO DROP AND LET THE TWIN LAND; SO THERE WOULDN'T HAVE BEEN THE POTENTIAL CONFLICT. ANOTHER REMEDY MAY HAVE BEEN FOR THE TWR TO HAVE HELD THE OTHER TWIN SO I WOULDN'T HAVE HAD TO COME IN SO HIGH.