If you don't have the owners manual my guess it could be a sensor at the pedal or the throttle motor which moves the throttle plate. Assuming everything is computer controlled.
SOURCE: SEAT TOLEDO WARNING LIGHTS
Could be the motor-management-warning light, but I guess it's the break-warning light. There might be too little breaking-fluid left in the lines ... A boardcomputer-readout should clarify this.
Otherwise, try parking on an ascending road with the nose pointing up, hit the hand-break and wait like 2 minutes; the light should come on. You might wanna retry it with the car's nose pointing downwards as well ... If so, definitely the breaking-fluid, otherwise probably not ;)
In any case - flashing warning light are never ok, so when you see it again and you're sure it's not just the ABS/ESP warning light, go and have your boardcomputer read-out, since it should contain useful errorcodes ..
It sounds like the DSC fault that I have on my 320ci, apparently I need a new steering angle sensor.
SOURCE: flashing light on dash, circle with exclamation
hi think its brake fluid warning light if it flashes if doesnt flas then it just parking brake indicator my i reckon it first one so check brake levels if necessary top up above minimum if not theres a fault either the light it self or braking system hope this helps
SOURCE: yellow triangle with exclamation mark
Page 115 in the manual if you go to the following link.
http://www.scribd.com/doc/49755408/Fiat-500-Owners-Manual
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