Ligamentum flavum literally means “yellow ligament”, and is so known because it has a yellow coloring due to the amount of elastin (a springy type of collagen). The elastin pulls the ligament out of the canal when the spine is extended. As we age, the ligament loses elastin, and this allows the ligament to encroach on the canal.
The ligament can become a substantial contributor to spinal stenosis, and is usually removed during a lumbar decompression surgery.