The Mac OS X package contains Mac OS X 10.4.11. The Mac OS 9 package contains a 1GB disk image on which Mac OS 9.2.2 is already fully installed. Nevermind the yellow screen with a VRAM partition not found error, it will go past this without any problem. Just launch the 'QEMU - Mac OS 9.2.2.bat' (or 'QEMU - Mac OS X Tiger 10.4.11.bat') file and wait 30 seconds for Mac OS to boot up. These bundles were put together by 'that-ben' and are intended to be the easiest possible for beginners. At some point in the near future hopefully, QEMU will fully replace SheepShaver, but at the moment, SheepShaver still runs faster in most situations. Note that QEMU can also emulate Mac OS X 10.0 up to 10.5. In 2016, QEMU could finally achieve what has never been possible before: emulating Mac OS 9.0.4, 9.1 and 9.2.2 (albeit still it's quite slow and the sound support is kind of buggy at the moment).
QEMU is a very versatile and extremely broadly supported open source virtual machine emulator. What is QEMU for Windows - PPC emulator, runs Mac OS 9.1, 9.2 + OSX 10.0 to 10.5?