No flavor is imparted by the yeast itself if you decant off the beer over the yeast. However you should never use a yeast from a higher gravity brew on a lower gravity beer as the yeast have been stressed and will not perform well in the new brew.
Fermentor 1: Bill's House Ale II, Fermentor 2: German Helles, Fermentor 3: Bill's Schworzbier (Black Bier)
Tap 1: Bill's House Ale II, Tap 2: German Hefewizen, Tap 3: Nut Brown Ale
Future Brews: Stone IPA Clone, Blonde Ale, Budvar Clone, Newcastle Clone
New toy: Blichmann 27 gallon fermentor
If you find yourself in a hole, the first thing to do is stop digging
Good judgment comes from experience, and a lotta that comes from bad judgment