Among C different possible values for each y and m total y's, I want to show the value with maximum number of $y$ having that value.
Let's assume there are $m$ different functions $y_1$,...,$y_m$ each of which can output a value from the set of possible outcomes {1,...,C}. I want to know what outcome is the most common among all the function outputs.
This is the notation that I have so far:
$\hat{y}_i = \underset{c\in\{1,...,C\}}{\mathrm{argmax}}(\{y^{(j)}=c\}_{j=1}^m)$
Is this a correct notation?
What you are looking for is $$ c^{\star}\in\operatorname{argmax}_{c\in\{1,\ldots,C\}}(|\{i\in\{1,\ldots,m\}\colon y_{i}=c\}|). $$ There were two issues in your formulation:
Another issue, that also appeared in your code is that on the left-hand side, you have $i$. Why? Also, why call it $\hat{y}_i$ instead of something like $c^\star$ or $c_{\text{most}}$?
The above is a bit verbose, so perhaps
is best, since the intended meaning is clear.