Re: Yellow Flash
Hiraishin no Jutsu - Flying Thunder God Technique
Hiraishin no Jutsu is a ninjutsu technique utilized by the Fourth Hokage. The technique gave Yondaime his nickname "Konoha's Yellow Flash," due to his bright yellow hair and his ability to traverse great distances in the blink of an eye. A space-time jutsu like Kuchiyose, Yondaime first needs to mark his destination with a shiki (rite) first, he can then activate the jutsu to come to the mark. He can apply this to a weapon such as a kunai, and when thrown or used, he can instantly travel to it. He can also apply the mark to a touched area, such as his opponent or some other surrounding feature. No matter where the opponent goes, Yondaime can travel to the mark to kill them.
this explains Kakashi's present. (A kunai with a shiki wrapped around it)