From Wikipedia:

The United States requires the presence of tartrazine to be declared on food and drug products (21 CFR 74.1705 (revised April 2013), 21 CFR 201.20) and also color batches to be preapproved by the United States Food and Drug Administration (FDA). As part of these regulations, the FDA requires that the Precautions section of prescription drug labels include the warning statement, "This product contains FD+C Yellow No. 5 (tartrazine) which may cause allergic-type reactions (including bronchial asthma) in certain susceptible persons. Although the overall incidence of FD+C Yellow No. 5 (tartrazine) sensitivity in the general population is low, it is frequently seen in patients who also have aspirin hypersensitivity."
The FDA regularly seizes products if found to be containing undeclared tartrazine, declared but not FDA-tested, or labeled something other than FD&C yellow 5 or Yellow 5. Such products seized often include noodles.

In 2010, the Center for Science in the Public Interest (CSPI) called for the FDA to ban Yellow 5.[30] The FDA reviewed the data, and did not ban it.

Alternative coloring agents

Organic foods typically use beta-Carotene or curcumin (from turmeric) as an additive when a yellow color is wanted and annatto (E160b) might be used for non organic foods. Other alternatives include chlorophyll (green), beet powder (red or pink), cocoa powder (brown), paprika (brown) and saffron (orange).

Myths

Rumors began circulating about tartrazine in the 1990s regarding a link to its consumption (specifically its use in Mountain Dew) and adverse effects on male potency, testicle and penis size, and sperm count. There are no documented cases supporting the claim tartrazine will shrink a penis or cause it to stop growing.
Although tartrazine is one of various food colors said to cause food intolerance and ADHD-like behavior in children, evidence for this claim is lacking. It is possible that certain food colorings may act as a trigger in those who are genetically predisposed, but the evidence is weak.