The depiction of the Baphomet consists of an androgynous goat-headed entity with it's right arm pointing up and the left arm pointing down. The Baphomet is an abhorrent looking creature... but it's ugly appearance is symbolic of our lowered state of consciousness. In the center of it's abdominal region is the Caduceus aka "The Staff of Hermes" which is symbolic of the kundalini force and our DNA. The Baphomet's arms facing opposing directions is representative of duality. It's head symbolizes our beastly awareness which is associated with our lower chakras... "Muladhara", "Svadishthana", & "Manipura".
The Baphomet's sitting on a globe which is indicative of it's relevance to the earth realm. It's head is the reverse pentagram in the occult, at the top of the positive pentagram is the first and purest element, Spirit. Satanists and other dark occultists reversed the positive pentagram so that the denser elements could be placed above the thinner elements.
There's a positive pentagram on it's forehead which to me, is somewhat symbolic of the inner truth of it's guise. I see it this way because the Baphomet's head itself is the reverse (negative) pentagram and with the positive pentagram being located in it's center is like another esoteric example of duality.
The Hermetic aphorisms, "As above so beneath" & "As within so without" is what the Baphomet perpetuates in this illustration.
But I've only unveiled a minuscule fraction of meaning of this depiction, there's much more meaning within it...