Note the wiring as I'd said.
Also note that he'd asked about a telephone handset, not a telephone itself. The wiring here is NOT to connect this handset to a wall plug, but to the phone base, that's all (dumb ol' handset, no electronics, like I'd said). The base contains all the electronics that makes a phone a phone.
Now on to the black and yellow pair.
Back in the 70's and prior, phones required the yellow and black wires to be hooked together from all the jacks in the house, and terminated at d-marc/lightening protector. A small transformer that plugged into a wall plug somewhere in the house was terminated with them.
The sole purpose for this was to power the dial light. They used a neon bulb that drew more current than the phone company was willing to pay for, thus they sprung instead for a transformer.
With the advent of the LED, power draw was reduced to a point to make it feasible to power them from the telco's line.
However, everyone still made 4 conductor cables and 4 (sometimes even 6) conductor jacks, so they continued to do so.
Nowadays, if you have a second line installed in your house, the technician will most likely use the yellow and black pair for line 2, as long as that pair tests as voltage free (no transformer). If I do find voltage on that pair, then I disconnect the transformer, and use that pair freely. Every jack that the customer needs to be working on line two, simply needs to be opened and have the black/yellow pair moved to match the jack's red/green pair.
You pay dearly for a technician's install time, so it's cost effective for the customer AND the telco.
Slowly, multiple lines in homes are becoming more and more popular, so category 3 (cat-3) cable has become standard. It's ability to carry up to 4 numbers is helpfull, as is the redundency should a pair get a fault over time. The tech simply has to switch pairs to clear a fault instead of trying to rip out whatever wallcovering that the homeowner has installed, to replace the wire.
And that's all I have to say 'bout that.
Have a groovy day!