FHH:
You're talking about aliphatic resins. Titebond, Elmer's Carpenter's glue, etc. Those go on yellow and they dry ...yellow. Still, they have the rubbery consistency of a vinyl handlebar grip. In my experience they are sandable but not really...they ball up and clog the paper.

Polyurethane glues go on clear amber and when they harden they foam up a bit and become light yellow. They become a bit more rigid than aliphatics, so when they are sanded, they don't clog the sandpaper.