Why does the air bag light stay on in my 95 camry?

Normally due to a circuit fault.

Does it stay on or flash?

If it flashes, it is indicating the location of the fault. (LFC's)

If its just "on", it will most probably be a loose connection, and normally its a connection under the seats if you have seating airbags.

Also check the seatbelt stalk wiring connections if you have the retractable buckle seatbelts. (Those that tighten under charge upon sensing an abrupt stop)

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