1) What does the green ribbon mean? When I mouse over it it will either way recruit or hot streak. Not sure if that is a glitch or what but...

2) Are there other emblems? I have only seen three: the green one, the blue recruit, and hot streak.

bump

there are 3 in total...

Veteran - 100 games in the league
Recruit - Joined the league within last 14 days
Hot Streak - Won 3+ games in a row...

Its purely cosmetic and will auto go off your summoner thingy when the fact is no longer true...aka once you lose a match no more hot streak etc etc.