On these burners, usually yellow flame = oxygen starved. Blue flames that lift off the burner = too much oxygen.
Definitely check the air valve, it should be roughly half open.
Otherwise, I've heard of weird things occasionally happening with regulators and tank safety devices that cause even weirder flame patterns. Try shutting off the tank valve, disconnecting the regulator, then reattach the regulator, make sure it's totally closed, then slowly open the tank valve. Then slowly open the regulator and light the burner...
Cheers!