The idea of "Yali" is certainly a part of Hindu mythology, there are a number of different types of Yali, and they serve a number of different functions, they also have a number different names.
However, Bali-Hindu is not mainstream Hindu.
I do not recognise this figure under discussion, I do not know of the representation of Yali in any of its forms in Balinese art or mythology. This does not mean that such representation does not exist, it only means that I have not encountered it in Bali, and I feel that if it does exist in Bali, I probably should have encountered it.
From what we can see of this blade, it does appear to have some age, but looks in an image on a screen can be very deceptive.
My current feeling is that we might be looking at a comparatively recent artistic essay here, possibly Bali, more likely Lombok, and I do not think it is from East Jawa/Madura.
By "comparatively recent" I mean within the last 100 years or so.
The above cannot be read as an opinion, it is comment that might hopefully lead to further discussion.
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