Shouldn't yellow raincoats the only appropriately colored raincoats?

School buses are most often painted yellow because the color attracts attention and is noticed quickly by peripheral vision. In fact, the human eye detects yellow faster than any other color.

Scientists describe this as follows: "Lateral peripheral vision for detecting yellows is 1.24 times greater than for red."

For this same reason, raincoats are often yellow. In the low visibility of a rainy day, you want pedestrians to be as visible as possible to those behind the wheel of vehicles.

This leads me to wonder:

Based upon this data, shouldn't every child's raincoat be yellow? If we're going to paint vehicles that are 45 feet long and nearly impossible to miss yellow so they will be even more impossible to miss, shouldn't we be encapsulating our three foot tall bundles of randomness in cocoons of yellow to protect them, too?  

If red, blue, pink, and green raincoats are not as readily detected by motorists, operators of heavy machinery, garbage collectors, cyclists, pilots of exceptionally low flying aircraft, and folks on horseback and camelback, what kind of monster would dress their precious little child in anything by a yellow raincoat?