what is this warning light?
 

I recently picked up this 1992 lexus es300 pretty cheap. Love it. Recently when getting up to speed on the interstate a warning light comes on then goes off.it kinda looks like the oil light but its yellow and has was looks like water under it. I checked the coolant and its fine. Anyone know what this is?

There are two warning lights related to oil; the yellow light is a low oil level warning light so topping off or an oil change should turn it off, and the red right indicates low oil pressure and that can cause serious damage if you keep driving with it on.

Sounds like the OP is talking about the oil level warning.


https://cimg3.ibsrv.net/gimg/www.clu...a4428d6ff5.jpg

Yup, that's the low oil level indicator. I'd top off the oil and check the level every day for a few days to see if it drops. These engines love to leak oil anywhere they possibly can (especially from the rear valve cover), but not generally enough that you would have to add oil too frequently. Just fill it up and keep an eye on it. It takes 10w-30 or if you will drive a lot in winter and change the oil before summer then 5w-30 is fine.