It should be treated as a stop sign.
If the traffic lights are not working, the intersection is treated like a 4-way stop. That is, as if everyone has a stop sign.
A flashing red traffic light is treated the same as a regular red traffic light because it indicates that drivers must come to a complete stop before proceeding.
Anyone driving a vehicle or riding a bicycle should obey a traffic light.
A steady yellow traffic light indicates that the traffic signal is about to change to red, and drivers should prepare to stop safely.
When approaching a blinking yellow arrow traffic light, a driver should proceed with caution and yield to oncoming traffic before making a left turn.
When approaching a flashing yellow arrow traffic light, a driver should proceed with caution and yield to oncoming traffic before making a left turn.
.... as a stop sign.
If there is a traffic light.
When approaching a yellow arrow traffic light, a driver should prepare to stop if it is safe to do so, or proceed with caution if they are already in the intersection.
You proceed with caution. You don't stop at a blinking yellow light, but you need to keep alert and aware of what is in that intersection.
A yellow arrow traffic light means that you should yield in the direction you are going. These are often in place when you are turning left.
When approaching a yellow traffic light, you should slow down and prepare to stop if it is safe to do so. If you are unable to stop safely, proceed through the intersection with caution.