Vault (popularly known as The Yellow Peril) is a public sculpture located in Southbank, Melbourne, Victoria, Australia.

The work of sculptor Ron Robertson-Swann, Vault is an abstract, minimalist sculpture built of large thick flat polygonal sheets of prefabricated steel, assembled in a way that suggests dynamic movement.

Commissioned by the Melbourne City Council after winning a competition in May 1978,[3] for the newly built Melbourne City Square, the sculpture was not even built before it began to attract criticism from certain media and council factions, on the grounds that its modern form was felt to be unsympathetic to the location.

[2] In July 1981, Vault was finally dismantled and re-erected at Batman Park, a much less prominent part of the city.

[8] Other Melbourne buildings that incorporate references to Vault include the Adelphi Hotel on Flinders Lane and St Jude's Church in Carlton.