What is the meaning of a blinking yellow traffic light?

A blinking yellow traffic light indicates that drivers should proceed with caution. This means that while it is not necessary to stop, you should be alert to any potential hazards on the road and be prepared to yield to other drivers or pedestrians. The blinking light serves as a warning that the situation may require special attention, such as approaching an intersection or a pedestrian crosswalk where vehicles may need to slow down.

In contrast, the other options imply actions that do not align with the purpose of a blinking yellow light. Coming to a complete stop is reserved for red lights or stop signs, while speeding up goes against the cautious approach required when observing a blinking yellow. Preparing to turn left may apply in specific scenarios, but is not a general instruction given by a blinking yellow light. Therefore, the correct understanding is to proceed with caution, which is the essence of that traffic signal.