This is an overheating problem. move your ps3 away from carpet, heat-making thing, and 4 inches away from EVERYTHING.
If there is a yellow light involved somewhere, then ig that^^^ and read this:
You have the Yellow light of death. The YLOD is the Red Rings of Death, except for the
PS3.
I recommend Wiredextreme.com to service your system (if it's out of warranty). About half the price of a
Sony
repair and you get YOUR system back, unlike when you send it to
Sony
where you get some other random refurbished system. WE has a automatic
90-day warranty, the same as Sony, but WE also gives you the option to
extend the warranty up to 4 years. the WE warranty covers the entire
system, not just what they fixed on it.
If it is still under warranty, set up a service request with Sony using these instructions:
http://playstation.custhelp.com/app/answers/detail/a_id/106/session/L3NpZC9UTFFuUjNWag==
Make sure you erase all of your personal info off of your PS3 and follow the instructions on the page above.
Good luck!
Oh, and if you send your system in to Sony, you will get a different copy of the game that is stuck in your system packaged separately and later than when you will get your system back from Sony.