I wouldn't notice 'yellow hair' in a book at all, though it would be less typical in other more everyday contexts such as conversation. It sounds more traditional, or perhaps more like a way of describing for children, like a description from a fairy tale or a storybook. An ordinary person using crayons, say, to draw a picture of a person would use a yellow crayon for blond hair, though an artist would of course know that the real color is considerably different.
'Light hair' is also very common. 'Fair hair' as well, maybe a little more in writing than in speaking. 'Fair' can also refer to hair and skin both, generally light-complexioned.
A police report would probably use 'blond / blonde.' It would also be the word of choice where the specific shade matters, like at the beauty shop. It's the main word that can be qualified with other adjectives to show degrees along a spectrum -- pale / light / dark / medium blond, ash blond, dirty blond, etc. Though 'pale yellow hair' is also possible.
Other terms sometimes used to vary the description include flaxen-haired, straw blond, tow-headed, etc. A reddish blond is called strawberry blond, though the color is nothing like an actual strawberry.
'Bright hair' sounds more unusual to me, though certainly not impossible. I might expect it in a more poetic context, or as a description of hair that was somehow gleaming or shining, as perhaps in a painting of an angel, or a person standing in a ray of sunlight. 'Golden-haired' might be more poetic or literary.