Continuity mistake: After the Memphis Belle drops its bombs and scores a direct hit on its target you see the Memphis Belle lift up and turn right with the bomb bay doors closed. The next scene the bombadier says "okay, bomb bay doors, closing" and you see the doors close again.
Continuity mistake: When the bottom turret is shot out, Rascal is hauled into the aircraft, and although the turret is completely destroyed, when the Belle lands, the bottom turret is visible and intact again.
Continuity mistake: When the 3rd engine is going out, you see both of the landing gears are up, but it was just moments before that Dennis already lowered the left landing gear.
Continuity mistake: In one scene, Jack discovers the 'couldn't get laid last night' note Genie taped to his back, then a couple of scenes later, when Rascal is telling the crew the joke he heard from one of the waist gunners from Windy City, the note is taped to his back again.
Continuity mistake: During the crash landing propeller blades are flying off. Later on when then plane comes to a stand still the blades are back but bent backwards.
Answer: That would be a flare being fired from the aircraft. Yellow ones meant the aircraft had sustained serious damage, although that was often self-evident, and a red one meant that there was a seriously injured crewman on board - prompting first aid teams to be ready to meet the aircraft once it had landed. Their was also an unofficial green flare that meant someone had completed their tour of duty.
Farmersboy