It's all actually a complex socio-political metaphysical metaphor for life and sexuality. The first one has a skull, a common symbol of death surrounded by tears (sorrow) or blood (life & menstrual = feminine) or potential his seed (masculine)
Each of the talons is like a mini crescent moon further emphasising the 'moon blood' theme and the red eyes signifying PMT - there are 12 tears representing 12 calendar months of Faerún. Each representing one moon cycle and chance of reproduction.
As the character murders their way through the games the tears ultimately dry up as they return to the source (egg) which is Bhaal (the father). In this way Bhaal is both his own mother and father and the charname is essentially enabling it and is thus a surrogate dead god penis.
All in all Baldurs Gate has a deep narrative component about trans-queer-gender role reversal, death & rebirth and god spunk.