Yellow Racing Flags
The solid yellow flag, or caution flag, universally requires drivers to slow down due to a hazard on the track, typically an accident, a stopped car, debris or light rain. However, the procedures for displaying the yellow flag vary for different racing styles and sanctioning bodies.
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In Formula One racing (Grand Prix), a yellow flag displayed at the starter's stand or a marshal station indicates that there is a hazard "downstream" of the station. The manner of display depends on the location of the hazard:
• A single waved flag denotes a hazard on the racing surface itself.
• A single stationary flag denotes a hazard near the racing surface.
• Two flags waved simultaneously denotes a hazard that wholly or partly blocks the racing surface. This informs the driver that there may be marshals on the track and to prepare to stop, if necessary.
When shown at a station, drivers are forbidden from overtaking until either the hazard or the next flag station displaying a green flag (signifying the end of a cautionary section) is passed. This flag is shown at the discretion of the marshals manning the station. Wikipedia