Yellow is the color of the 3rd (solar plexus) chakra. This chakra allows us to direct our personal power. The symbol (and tarot card) associated with yellow is “The Sun.” 
So, think about how you feel when the sun soaks into your skin on a beautiful day. It’s warm and inviting, making you feel light-hearted, energetic and cheerful: ready to enjoy life.
You can see how the solar plexus chakra and the symbol of the sun go together. When we feel light-hearted and cheerful, and we are more optimistic, which increases our personal power.
However, when the sun is too hot, it can betray us. We can become so lulled by it’s warmth that we don’t realize we are being burned. It can be deceiving. Yellow is ruled by Mercury, God of communication and manipulation.
Yellow represents intellect, awareness and quick thinking. (Also associated with Mercury.)
When interpreting yellow in a card, consider not only the aspect or item that is yellow, but that all things in the tarot are capable of representing both positive and negative, depending on the card, on the reader, on the position of the card.
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To interpret yellow in a tarot reading consider these connotations:
Positive Connotations:
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• Carefree, light-hearted, joy for life
• Warm, bright & cheerful
• Strives for knowledge and wisdom
• Helps with sense of direction
• Radiant solar energy
Negative Connotations:
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• Cowardly
• Deceit
• Treachery
• Dishonor
• Relying on logic without consideration of emotion or intuition
As always, choose one or two key words that are meaningful to you for that specific reading.
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Sample Interpretation with Yellow:
Deck: Universal Waite (Pocket Edition)
Card: King of pentaclesMuch of the background is yellow, as well as the pentacle, crown and specter. The preponderance of yellow stood out to me.
In an otherwise negative interpretation of separating from the people who provide safety and security (city separated by a wall), the yellow told me that if the person were to become mentally aware and seek out direction, knowledge and wisdom, they might be able to repair a damaged relationship.
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References:
“Pictures from the Heart: A Tarot Dictionary” by Sandra A. Thomson
“Color Magic for Beginners” by Richard Webster
Colour Power