The ecu has detected a fault, the ecu self diagnostic features vary with manufacturer but normally open/short circuit of sensors and actuators are recorded and sometimes out of range readings, also EOBD systems record misfire and emission faults.
Constant yellow light means an error has been logged, if the fault does not reoccurr within three drive cycles the light will go out, but the error code will remain in the system until 40 full drive cycles have been carried out. A flashing yellow light means a misfire is detected