I have recently got my PPL, and started the FAA Safety Wings program. After completion of each phase, are we awarded a physical lapel pin?
Yes, the FAA currently offers a lapel pin at the completion of each phase of the WINGS program.
This "reward" is not automatically awarded or delivered, the WINGS participant must request it. Upon completion of each of a phase, for example Basic, Advanced, or Master, the FAA Safety Team will include the following notice:
If you have not already done so, I encourage you to go to your My WINGS page at FAASafety.gov and claim your Team Member Reward -- a beautiful set of wings for your lapel.
The pins are sponsored and distributed by AVEMCO, in partnership with the FAA.
The pins are available in at least three finishes: bronze, silver, and gold, and a special sea-plane version is apparently available.