Rahul,
They in general return references to elements on the Skuid page. What they specifically return depends on the context, and if you are in a snippet you can see what they contain by using console.log(arguments[0]," ",arguments[1]); To view the Chrome console (and the arguments), right-click the previewed Skuid page, select “Inspect”, and go to the console tab of the Chrome console.
Thanks!
Amy