This third finger bent mudra is known as the 'Tripataka' in e forms that depicts three parts of a flag. This hasta (hand) is generally used to depict a crown, tree, pigeon, and arrow among other things in dance forms like Kathak and Bharatnatyam.
In a when you bring together the tips of the ring finger and the thumb, the Mayura is formed. The word '' means peacock and is often used to depict the bird, but in Indian classical dance forms it is can also be used to depict decorating the forehead, someone very famous or even putting kajal or kohl in one’s eye. In yoga, this mudra is called the Prithvi (Earth) mudra.
This particular hasta-mudra is known as the kartari-mukha (scissor’s face) . It is used to depict corner of the eye, lightening, a creeper or disagreement in forms. In yoga, this mudra can be accompanied with padmasana. It is believed to improve your immune system and eye power.
Pataaka Hasta is the first Mudra of the 28 single handed Mudras as described in the Abhinaya Darpana. The name Pataaka literally translates as ‘Flag’. Hasta means ‘Hand’. This Mudra is the most versatile of all Mudras and has many meanings and usages.