@Komorebi 's answer is definitely more along the lines of what you should do for this issue, rather than trying to print twice.
Warning: Unwarranted digression follows ! 
But to answer the original question of separating colours - you can do it, the selection tools just donât really offer a good way to go about it. But you can just mess around with the RGB channels:
So we want to separate the yellows here. Thinking about it, that means the areas we want are not going to have much blue in them, since yellow is red + green in RGB.
So letsâ try something simple. First we copy the image to a new layer for processing. Weâll just use the values of the blue channel to adjust the values of the RGB channels:
We want a BW selection mask, though, so I desaturate (I set the math to âmaxâ because I felt like it):
Then levels:
Now we right-click the layer and select convert > to transparency mask.
We need two layers with the original image now, one for the yellows, one for the rest. We drag the transparency mask we just created into the âyellowsâ layer, and an inverted version into the ânot yellows layerâ:

The black background is required for things to make sense as we add these layers up.
Now we get:
Yellows:
Not yellows:
Combining these doesnât actually give the precise original result, possibly itâs a gamma issue with the selection masks or something else Iâm not figuring out right now. But if you have to, it is a way to make selections based on colours. Thereâs a lot of different ways you could compare colours to each other depending on what colour you want to separate out. This is basically pulling a key.
You definitely canât combine these by printing, though, since both layers are composited on black, and will look bad if you try to composite on white instead. The selection at the edges is not quite precise, so the combination of transparent pixels does not add up to 100% opaque for some reason. Maybe a gamma issue as I said, Iâm not sure.