What does a flashing yellow light signify?

A flashing yellow light indicates that drivers should proceed with caution. This signal alerts motorists to be aware, as there may be potential hazards ahead, but does not require a complete stop. It suggests that the driver can continue through the intersection or area but should do so while remaining vigilant and prepared to react to any unexpected situations, such as obstacles or pedestrians that might be crossing.

The other options imply actions that are more restrictive or specific than what a flashing yellow light indicates. For instance, stopping immediately would be appropriate for a red light, while yielding to pedestrians is specifically related to crosswalk laws, and preparing to turn left is more relevant to turn signals. Thus, the yellow light's primary purpose of signaling caution aligns with the understanding that one should proceed but remain alert to their surroundings.