Lower portion of eyeball looks yellow?

Many causes: The conjunctiva, or the normally transparent lining of the white of the eye, can have a wide variety of color variations, lumps and bumps. While yellow could indicate jaundice, it more commonly is a normal variation. A clearing hemorrhage under the conjunctiva can become yellow, prolapsed fat from behind the eye can look yellow, and small benign growths on the eye called pinguecula can be yellow.

Could be jaundice: This may be a sign of jaundice. You should see your primary care doctor first who would check blood-work for an underlying condition, such as liver disease.