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'The Yellow Butterfly' Symbolism. Meaning of Yellow butterflies when seen in DREAMS. There are two ways to interpret the meaning of yellow butterflies when seen in dreams. If the dream is a happy one, it means that the person is in for some fun and frolic. It is the time to make merry. Happiness and prosperity are just round the corner.
In Western cultures, yellow is associated with happiness, cheeriness, optimism, warmth (as the color of sunlight), joy, and hope, as well as caution and cowardice. In Germany, yellow represents envy, but in Egypt, it conveys happiness and good fortune.