Yeldon received an unsportsmanlike conduct penalty against Texas A&M last Saturday after making a "money" symbol with his fingers and giving a throat slash gesture.
Yeldon was mocking Texas A&M quarterback Johnny Manziel, who uses the money symbol -- by rubbing his thumbs and forefingers together -- after big plays.
"I want to apologize to everyone for my selfish actions on Saturday," Yeldon said in a statement released Monday. "That is not the way I want to represent myself, my family and our team. That is not the way we do things at Alabama. This is something that I will learn from, and I will use better judgment in the future."
After the A&M game, Alabama coach Nick Saban criticized Yeldon's actions.
"That's not us. That's not our program. That's not what we do. We've never ever tolerated and we've never ever had it," Saban said.