What does a flashing yellow light indicate?

A flashing yellow light is a warning signal indicating that drivers should proceed with caution. This type of signal typically alerts drivers to slow down and be attentive to their surroundings, as there may be potential hazards, such as pedestrians crossing, road work, or other vehicles entering the roadway. It does not require drivers to stop but instead emphasizes the importance of being vigilant and prepared to respond to whatever may be ahead.

The other responses do not accurately reflect the purpose of a flashing yellow light; stopping immediately would be more appropriate for a solid red light, speeding up would be dangerous and goes against the cautionary nature of the signal, and yielding to pedestrians is an important action, but it is specifically a requirement in designated situations rather than a direct instruction associated with a flashing yellow light.