Guru Rinpoche, or precious teacher, is commonly known as Padmasambhava - the 'lotus born'. Known as the second buddha who propagated the Buddhadharma throughout Tibet, he is considered the complete embodiment of all Buddhas of the three kayas.
This particular form of Guru Rinpoche is formally known as Pema Jungnay. With his right hand, he holds a five-pronged vajra to his heart, symbolizing the indestructible nature of his wisdom-awareness and emptiness. In his left hand he holds a skull cup, or kapala, with a longevity vase inside, while cradling a trident, or khatvanga in his left arm.