Some people speculate that the small characters are in the process of transforming to something else. The small semi-transparent figure near the center of the image may be some kind of ascending being. A venom or blood dripping snake and some rather otherworldly characters fill out the scene. For me, one of the strangest figures on this panel is the bird-like anthropomorph that can be seen on the far left of this image.

The book "Stone Chisel and Yucca Brush" indicates the possibility that the large figure on the left is a shaman in an out-of-body experience and that the snake (with its little arms) is an alter ego or animal familiar of the shaman. The blood dripping from it may be a representation of hemorrhaging which can occur with certain trancing shamans.