Yes, you can direct connect! The first set of inputs you mention, the "Yellow-White-Red" is called composite or RCA video. The Raspberry Pi supports this, it's the matching little Yellow RCA connector on the Pi, next to the headphone jack (see diagram). Connect this with an RCA cable to the matching Yellow connector on the TV and you're set. The White and Red jacks are left and right channel audio respectively. You need a 1/8" stereo to RCA, or phono when it's audio, cable if you want audio through the TV as well. On the Pi you'll also have to enable audio out over the 1/8" jack by editing the config.txt file, by setting hdmi_drive=1. When Linux boots you'll also need to run amixer cset numid=3 1.
That's one option. Without knowing more about your TV, what I'm about to write about is a bit speculative. Generally the Y/Cb/Cr is a higher quality video input called component video. It's analogous to VGA like computer monitors originally used. It's what the original fat Xbox 360s used for connecting, for example. The Raspberry Pi doesn't support this, but the Pi does do HDMI, and there are lots of conversion boxes to go from HDMI to Component video. This is a bit sketchier though, so you're probably best off using the composite video until you get used to things and want to experiment."display - How do I connect Raspberry Pi to my TV? - Raspberry Pi Stack Exchangedisplay -"
