Why does my ps3 when i turn it on it it flashes yellow then turns off in flashes red

Follow all 6 videos and your PS3 will work again. and it wont cost you $150 with sonys Refurbish program

PS3 red indicator light flashes with yellow means hardware errors and need some maintenance. Do you know, send back to game shop is too expensive and waste your time. Learn the correct repair skills and fix it by yourself is the ultimate method. Here is the repair guide for you to learn :
DIY PS3 Repair Guide
Not only such yellow light flashing problem, you can repair other red and yellow light related issues as well.After you purchased the product, you will be guided to the step-by-step videos and ebooks for you to work with.

Unfortunatly your ps3 is dead, I am sorry for your loss.

Try following the 8 Steps to Troubleshooting Any PS3 Issue.

charge it red light turning of and beeping is meaning its dead

This article might help you.

Ps3 Red Light Fix

its over heated

that sounds like your main power supply unit

well yes obviously the flashing red light means that if u do not turn off ur PS3 it will die. but depending on how long u have had ur PS3, it may be becuase the life span is almost over.
if u have not had for a couple years it is most likely a manufacturing error
u should send it in to sony before the warranty is up and have them take a look at it

This is called a System Error. It is about the same as the Xjunks ring of death. You need to call Sony if you haven't broken your seal yet.