The yellow electronic component in question is likely an inductor or a transformer, possibly used in a radio circuit given the surrounding components. It is encased in glue or silicone for durability and environmental protection. The component may exhibit low inductance and could have a screw adjuster or markings indicating its specifications. The circuit's function remains unclear, but its design suggests it may be part of a remote control system. Further investigation into the board's operation and connections is needed for a definitive identification.