The given equation is a transport equation, which describes the evolution of a function \( y(x,t) \) as it moves along the \( x \)-axis. The general solution to this equation can be written as:
\[
y(x,t) = f(x - 5t),
\]
where \( f(x) \) is the initial condition function at \( t = 0 \). From the given initial condition \( y(x, 0) = \sin x \), we know that \( f(x) = \sin x \). Therefore, the solution to the equation is:
\[
y(x,t) = \sin(x - 5t).
\]
Now, we evaluate \( y(x,t) \) at \( x = \pi \) and \( t = \frac{\pi}{6} \):
\[
y(\pi, \frac{\pi}{6}) = \sin \left( \pi - 5 \times \frac{\pi}{6} \right) = \sin \left( \pi - \frac{5\pi}{6} \right) = \sin \left( \frac{\pi}{6} \right).
\]
Since \( \sin \left( \frac{\pi}{6} \right) = \frac{1}{2} \), the value of \( y(x,t) \) at \( x = \pi \) and \( t = \frac{\pi}{6} \) is \( 0.5 \).
Thus, the correct answer is Option (D): \( 0.5 \).