Yellow Jacket is a font similar to the Baywatch font, although not a perfect match. Best guess is that the actual Baywatch font was hand drawn and didn’t ever make it into an actual font file. But if you’re going for close, this is about as close as you’ll probably get.
It's also similar to the Carolina Panthers font.
If this isn't quite the Baywatch Font you're looking for there's also a commercial font called Baewatch available at Creative Market. We also have one called Road Rage that's pretty close.
This download contains 6 font faces