Treat it as a stop sign. Could be the lights are out (from a power outage/surge, etc), or its design.
It means you are to come to a complete stop at that intersection, and proceed when it is safe to do so.
Added: Unless it is illuminated on an emergency vehicle of some type (police/fire/EMS), then you must yield the right-of-way to that vehicle and or pull to the curb so as not to interfere with its safe passage.
what does the flashing tranmission light mean on a 1995 Isuzu trooper mean
A flashing yellow signal light means proceed with caution.
return to ramp
An engine cylinder misfire has been detected if your check engine light is flashing
its mean that
A flashing light with timed periodic movements.
Proceed with caution.
unknown
Somthing wrong with transmission.
A flashing (blinking on and off) orange light indicates that the battery charge is low.
A red flashing light on a Droid usually means that your phone has 15% or less battery left and is about to die!
clear for taxi or return to land