We are both in Wisconsin, I am zone 5 however. I would treat the yellow flag iris as any other iris (it can go in water or on dry land). The Papyrus is not hardy in our zone so you should treat as a house plant. Take it indoors and put in a sunny window. Keep it watered.

Dig

p.s. Once you put the yellow flag iris in the ground in your garden, give it a little bit extra mulch. Then, in spring, dig it up and put it in the pond. You can plant the iris in a pot of stones, lava rock, etc., plunk it in the water and it will grow like crazy. I normally keep the water line just above the rhizome, but I don't think that is necessary. As long as the iris's feet are damp or wet, it will grow. Beware that yellow flag iris can overtake your pond if planted directly in the pond.

Dig

Is papyrus hardy in z7 (Oklahoma)?

It's supposed to be hardy to 20-25 F. It's touchy here for me in 8b. A few years ago it got killed in the winter (freak winter with 6" of snow). Last year it came back okay but really late compared to the alternifolius and any of the native die backs I had. It took two weeks later than the natives for the alternifolius then about another two weeks for papyrus...

Thanks for the info. I was so excited to get my treasures from the yardwaste site for FREE!!! Next year I can have the pond that I wanted this year, but never got around to. It's great to have something new to look forward to when the garden is closing down for the season.