Yield sign: what does it mean?

The yield sign is a regulatory sign.

At a yield sign, drivers must slow down and yield the right-of-way to pedestrians and vehicles that are approaching from another direction.

Shape: downward-pointing triangle

Yield signs are shaped like triangles pointing downward

Location: at intersections

Usually posted at intersections where two roadways merge

Color: always red and white

The outside is red; the middle is white

If a yield line is painted on the pavement,

the drivers must yield the right-of-way before crossing the yield line. The drivers may proceed only after yielding and only when it’s safe to do so.

Yield (verb): To give up (an advantage, for example) to another; concede.

“Yield” means let other road users go first.
It’s not just other cars. Don’t forget about bicycles and pedestrians.
Unlike with stop signs, drivers aren’t required to come to a complete stop at a yield sign and may proceed without stopping -- provided that it is safe to do so.
Vehicles on the roundabout (coming from the left) have priority over those entering it, who are faced with a Yield sign.

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Based on the most recent version of the official DMV manual.

Just like the actual exam.

More MUTCD road signs