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Your ps3 overheated and Melted CPU. Yellow light blinks called YLOD aka Yellow Light of Death. CPU chip which is the brain of the PS3 melts Solder around it and creates a soldering bridge = when 2 different components become soldered as solid one. You can send it to Sony and they will fix it for you if its on warranty or without for about 140$ or you can do it your self its not that hard it just takes long time to take the ps3 apart to get to CPU to resolder the components. There is a guy that shows how to do it step by step on YouTube. Guy name is Gilksy he does it all slow and step by step in 3 videos

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Q: What does the yellow light on the bottom of a ps3 mean?
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What does it mean if when you turn on your ps3 the light turns green then yellow then to a blinking red?

means it's dead.. see YouTube video on related link and additional video also secrets of PS3 link


How do you get the traffic light of death on PS3?

nice video on the yellow light hope it helps. http://www.youtube.com/watch?v=zn89z_VUcP0


Why does your ps3 have a flashing red light?

nice video on the yellow light hope it helps. http://www.youtube.com/watch?v=zn89z_VUcP0


How do you fix red light of death for PS3?

nice video on the yellow light hope it helps. http://www.youtube.com/watch?v=zn89z_VUcP0


Can the ps3 super slim get the yellow light of death?

Mostly it was an overheating problem from the first fat PS3 models that used the most power. The super slims use the least power for any ps3The PS3 cannot get "the yellow light of death" - this is a fault on XBOX onlyThe yellow light on PS3 is the HDD (Hard Disk Drive) and can be reset by pressing the off button on the front of the PS3 not true completely because it does mean a hardware fault and it can be reset sometimes.Different causes were for normally the fat models see secrets of the ps3 info below or use the link for the siteThe "Yellow Light of Death" or YLOD is the common phrase people use to describe the following sequence when they try to turn on their PS3:Press Power ButtonRed Light Flashes Three TimesYellow Light FlashesGreen Light FlashesBeeps Three TimesRed Light FlashesThe sequence above may vary a bit but you do see the flashing yellow light (sometimes shows up as orange) that normally you would not see when operating your PS3. The YLOD is a general hardware fault that can mean a lot of things. However, one of the problems is cracked solder that leads the PS3 to think one of its internal chips is not connected or is broken somehow. Cracked solder can happen when the chips get too hot (RSX most likely) and leads the motherboard to start bending, which may crack the solder. Changing the power supply (lower the average wattage going to the chips to lower the heat) and better thermal compound (heat dissipates faster to the heatsink) may prevent this error from occurring. However, if your PS3 has already had the YLOD, then you can reflow your motherboard every few months to keep it working (but it is not a permanent fix as the YLOD usually comes back).