Instructions
Turn off your PlayStation 3 using the switch on the back of the console. Because the PS3 is experiencing the YLOD, you will likely be unable to turn off your console via the "PS" button on your controller or remote.
Flip the switch on the back of the PlayStation 3 one more time, turning it back on. It will immediately go into "Standby" mode.
Press the "Eject" button on your PlayStation 3. This will turn on the console and immediately eject the disc. After a few seconds you will hear a "beeping" noise and the YLOD will rear its ugly head, causing the console to lock up or shut down. However, because you turned the console back on with the "Eject" button the disc will still have enough time to eject itself before the console locks back up.