Great pictures, Michael!

Can someone explain in words the bijection between

$\textrm{natural transformations } \alpha: F \circ G \Rightarrow H$

and

$\textrm{natural transformations } \beta: F \Rightarrow \textrm{Ran}_G(H) ?$

Michael correctly claims there are \$$4^5\$$ of each, but there is some wisdom to be gained by understanding the bijection... since this will help us with more complicated right Kan extensions.