If $f(y_0) \
eq 0$, then there is only one local solution satisfying $y(0) = y_0$.
Namely, if $J$ is an open neighborhood of $y_0$ where $f\
eq 0$, then the function $$ F(y) := \int_{y_0}^y \frac{1}{f(s)}\, ds, \qquad y \in J $$ is locally invertible, being a bijection from $J$ to $F(J)$.
Hence the unique local solution of the Cauchy problem is given by $$ y(t) = F^{-1}(t), $$ for $t$ in a neighborhood of $0$.