Hazard signs are important for safety and compliance with regulations. They must use standardized formatting with a title, signal word, symbol, and text to clearly communicate different types of hazards. Caution signs indicate potential injuries from slips, falls, or unsafe practices and use yellow with black text. Warning signs use orange with black text and may include pictograms to identify specific hazards like radiation. Danger signs are only for areas with potentially deadly hazards like high voltage or radiation and use red, white, and black colors with the word "Danger" to indicate immediate risk.