"Speed Racer" Questions

I started watching the original Speed Racer cartoons with my young son, and we were wondering:

a) Often, a yellow checkered flag is waved. Does this signify something? Note: It is not in lieu of the traditional checkered flag to end the race.
b) Sometimes, the racers must race (on foot) to their cars at the start of the race. Is this reality in any known race (Grand Prix, etc)?
c) Speed wears a monogrammed “G” on his shirts. Why? What does this stand for?

The original Japanese title was “Mach GoGoGo”. From Facebook:

Le Mans Start

Yellow flag = slow down, hazard.

Yellow checkered flag? I’m not familiar with that one. Solid yellow, like Dave Hartwick says, is pretty standard in many types of auto racing.

What was the other color in the yellow checkered flag?

I can’t remember, was it yellow checkered or yellow quartered (two black squares, two yellow squares?) If checkered, I don’t know, but if quartered, that usually means “caution declared, first car across the line becomes pace car”.

Like this?

I have an old memory of a yellow and red checkered flag.

Ahh - I see from this you tube link that the end of the opening credits has a red and yellow checkerboard background. That may be what I’m remembering.