I always seem to confuse them...
Thus, a quick trip to Wikipedia.
Yali is largely a terrestrial creature: cow, lion, elephant etc through and through.
Makara in Sanskrit is a "sea-dragon" : it's front half is largely terrestrial, but the hind part is aquatic. Snake/dragon play a prominent role.
Creatures on the handle clearly have snake/dragon bodies and tails: see scales on the D-hard and on body extensions on the quillons.
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