T-34B US Navy trainer. Used until early 70s, was a propeller-driven, single-engined, navy trainer aircraft derived from the Beechcraft Model 35 Bonanza. Paint scheme standard for primary trainers 1930-1950 - Yellow Peril.
The name "Yellow Peril" was a generic name applied to several primary trainers. The name originated from the fact that all naval trainers had been painted orange-yellow since 1917 as well as from its use in Naval Aviation Reserve bases where prospective Aviation Cadets received their first training. In the event that a cadet failed to solo within a certain period of time, he was in "Peril" of not being appointed an Aviation Cadet.