Your meta_query
needs to be a nested array, like so;
$args = array(
'posts_per_page' => '5',
'cat' => '3',
'orderby' => 'rand',
'meta_query' => array(
array(
'key' => 'Featured List',
'value' => 'Yes'
)
)
);
And I get the feeling you don’t actually need a LIKE
match – this’ll perform a loose comparison, and isn’t as efficient as an exact match.