What color do yellow and white make?
Yellow and White make beige.

Yellow and White make beige, #ffffbf. That is the result in equal parts, mixing pigment rather than light - paint, ink and dye all behave this way.
Equal parts yellow and white · #ffffbf
Change the ratio
Very little of a mix is ever half and half. Shifting the balance moves the result along the range between the two colours.
3 parts yellow, 1 part white · #ffff60
Equal parts · #ffffbf
1 part yellow, 3 parts white · #ffffd9
Lighter and darker
With white added - a tint · #ffffd9
With black added - a shade · #99994d
Why it works
Adding white to yellow makes a tint. The hue does not change - only its lightness does, which is why you get beige rather than a different colour altogether. Keep adding white and it keeps moving towards plain white.
Frequently asked questions
What color do yellow and white make?
Yellow and White make beige, #ffffbf. Mixed in equal parts that is the result you get with paint, ink or any other pigment.
How do I make the result lighter or darker?
Add white for a tint - here that gives beige. Add black for a shade, which gives grey. Add white a little at a time, because it takes far less than people expect to shift a mix.
What happens if I use more yellow than white?
Three parts yellow to one part white gives mustard. Reversing it to one part yellow and three parts white gives beige instead.
Does this work the same way on a screen?
No. Screens mix light additively, so red and green light make yellow there. These results are subtractive - paint, ink, dye and pigment - which is what people mean when they ask what two colours make.