When encountering non-Asians masquerading as Asians in yellowface in twenty-first-century stage musical performances, I feel righteously angry, profoundly sad, and racially alienated. Yet musical theatre promises pleasure and enables the disavowal of complicity with systemic racist violence, as patrons, performers, and producers use their enjoyment to rationalize racial hierarchy. How does racial identity shape reactions to musicals? In turn, how do these reactions shore up and take down structural racism? This article theorizes "feeling yellow," how Asian Americans are moved and made in response to representation. Though grounded in racial inequality and difference, feeling yellow ultimately wields the potential to generate new pleasures by using feminist queer of color critique to redistribute misery and form communities of fellow feeling.