yellow flagEnglishOxford Dictionary of Englishyellow flag /ˌjɛləʊ ˈflaɡ / ▸ noun 1 a yellow flag flown by a ship to indicate the presence on board of disease. ▪ Motorsports a yellow flag used to signal to drivers that there is a hazard such as a crashed car ahead. 2 a yellow-flowered European iris which grows by water and in marshy places. Iris pseudacorus, family Iridaceae.