Does anyone know what would cause a flashing blue light under the steering wheel by the pedals?
I don’t know, but I can assure you that your Owner’s Manual has a section regarding all warning lights and controls.
Did you purchase this Solara as a new car, or was it purchased as a used car?
I ask that question because a used car could have had some kind of weird aftermarket accessories added to it.
If this car’s equipment is same as when it left the factory, your Owner’s Manual should have the answer to this question as well as virtually everything else that you should know about the safe and economical operation of the vehicle.