My kids and I have had this very same discussion. When I was a kid, that particular shade was known as ‘school bus yellow’. It has always looked orange to me, though.
In 1929, A.J. Harrell enlisted the help of the E.I. Dupont Company to improve highway safety by determining the vehicle color that would be the most visible on the nation’s highways. After the review was completed, it was determined that the color of the swamp holly berry would be most visible from the greatest distance. Swamp Holly Orange became the color used on all company tractors[1].