Krishna's pastime was to play at the banks of the River Yamuna. He understood that the waters were being polluted with the poison of the black serpent Kaliya. Krishna took him to task, and soon a terrible fight ensued between the two. As we see in this sculpture, Krishna, having crushed the serpent is dancing on its several hoods. Having both ends of the reptile under his control, he looks joyful.
Seeing the plight of their husband, the nagapatnis prayed to Lord Krishna to forgive him and spare his life. The nagapatnis on either side of the central image have female anatomy above the torso. They are elaborately bejeweled and pray to Krishna with head bent and hands folded. The jewellery of Krishna is intricately carved with attention paid to each minute detail. Chiselling is done in high relief and there is refinement in each form. It is highly polished giving it a brilliant gloss.
This description by Renu Rana.
Of Related Interest:
Playing with Krishna - God as Child in Art and Mythology