What does it mean if you have light yellow bumps on the rim of youe penis?

Probably normal. This is most likely pearly penile papules and is a normal thing. If you are concerned more than this reassurance, then get checked out by pcp, dermatologist or urologist.
PPP. There is a possibility you have pearly penile papules. These are benign non transmittable anatomical variants. They usually appear in younger uncircumcised men. They tend to regress with age. If you are experiencing discharge or any other symptoms you should see a physician.