decorated wine cask, decorated sword hilt
櫑 centers on a decorated container or fitting: an ornate wine cask or a decorated sword hilt. Both meanings share the idea of a crafted, embellished object.
櫑 combines 木 (wood) with 畾, which likely contributes the sound and may relate to repeated or layered patterns, fitting the idea of a decorated wooden object. The exact historical development is uncertain.
The left side 木 is wood, and the right side 畾 looks like stacked fields or repeated patterns. Picture a wooden wine cask covered in layered decorative carvings, or a sword hilt wrapped in ornate bands.
For ライ, imagine a decorated wine cask lying on its side: lie -> ライ, and the cask is so ornate it looks like it's resting on display.
tall container resembling a serving table (used for serving sake, confectionery, etc.)