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The Selecao skipper picked up the caution for blocking David Ospina's path to the ball as the Colombia keeper looked to launch the ball upfield.
The yellow card was his second of the tournament, meaning he is set to miss Tuesday's semifinal tie against Germany, but his side feels he did not intentionally get in the 25-year-old's way.
"I can confirm that we have received an appeal from the CBF and this is being analyzed," FIFA media director Delia Fischer said.
Meanwhile, Willian is expected to be fit to face Germany, despite limping out of training on Saturday with an apparent back problem.
The Chelsea attacker has been tipped to replace Neymar in the last-four clash after the Barcelona star suffered a back injury of his own thanks to a heavy challenge from Camilo Zuniga.
However, the former Anzhi Makhachkala man's knock is believed to be a minor one, and he is expected to be able to train with his teammates as usual on Sunday.