Since this question pertains to Yahoo! Search Marketing this thread may get moved to the PPC forum. Finding excluded keywords at the ad group level is really deep so you may want to save this and I will probably link to it from a sticky thread in that forum.
To set them at the account level:
*Click on the "Administration" tab
*Look for the Tactic Settings box in the lower right corner of the page.
*Click on the "edit" link in that box (not the "Tactic Settings" link.)
*You'll see a box for excluded keywords there.
That is also where you set content, search, advanced and standard for the entire account.
To set them at the Ad Group level:
*Click on the "Campaigns" tab
*Click on the name of the campaign you wish to edit to go to the campaign details page.
*Click on the name of the ad group to get to the ad group details page.
*On the upper right side of the page above the graph click on "Ad Group Settings".
*Find the "Tactic Settings" box and click on the "edit" link in the top right corner of that box (not on the "Tactic Settings" link).
*Look on the right side of the page between "Set Your *Sponsored Search Bid" and "Set Your Content Match Bid" for the words "Excluded Words" and click on "show".
*Enter the ad group specific excluded words there.
You can see but not edit Account Level excluded words on that page.
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