saffron's color is orange-red.
it's is actually dark yellow.

The resulting color will be a lighter version of the saffron color. It will not change the hue at all. It will change the shade of the color.

A saffron flag is the symbol of Hinduism, as saffron is the most sacred color to Hindus.

pink and yellow

Saffron is an orange-yellow. So orange with yellow would make a saffron. You would have to adjust the amount of either color to get the shade of saffron you want.