As a southie I gotta ask, do people really pronounce यह and वह as yaha and vaha up north? I've only heard ye and vo, and that's how I pronounce it myself as well, but that might be influenced by the Hyderabad Hindi I grew up with.
Yeah, not the most common term to toss around, I guess. It means that the sound is made by the teeth and lips, like the English V, but they are not closed together, so the air escapes between them, a bit more like an English W.
/Vaha/, pronounced "vo" apparently, is not gendered. It literally means "that (person)." Since English has gendered third person singular pronouns, you will need to decide from the meaning whether to translate it as he, she, or it.