Yellow Cab is a slur used to describe Japanese in a derogatory way. Japanese women who only date non-Japanese. Also used to indicate Japanese women who are supposed to be easy. I.E. anyone can ride her.
The word Yellow Cab is a racial slur that has been used historically to degrade and dehumanize japanese. The word is still used by some people for this purpose, and it is seen as offensive and hurtful to japanese. If you are unsure about whether or not it is appropriate to use the word Yellow Cab, it is best to err on the side of caution and avoid using it in any situation.