Margret and Elizabeth (Persona 3/4) Question!

[The Summoner of Leviathan]

So I've been playing Persona 4 Arena a lot lately and came to notice the fact that both Margret and her sister Elizabeth have golden eyes, moreover these eyes have an eerie resemblance to the eyes of the Shadows that everyone had faced in P4 (Shadows as in the main bosses who reflected the Jungian archetype, not the usual monsters). This gets a guy thinking to who/what they are. Could they be Shadows? If so, whose? It is heavily hinted that they are nearly immortal and insanely powerful. Any thoughts? I mean there doesn't seem to be enough in-game explanation, so this is really speculation.

[Mirage]

I've been thinking the same thing. I've been thinking that they might similar to what that jesus dude of the Strega in P3 was too. This is something I would much like to learn more about in P5.

[Skyblade]

I've been thinking the same thing. I've been thinking that they might similar to what that jesus dude of the Strega in P3 was too. This is something I would much like to learn more about in P5.

Not at all. Takaya was just a human. A rather nonsensical, pathetic human at that.

Elizabeth and Margaret are residents of the Velvet Room. They are not Shadows, anymore than Igor is. The Velvet Room is its own world, separate from the regular human world and the world of Shadows.

Shadows are repressed thoughts and feelings of the psyche, largely formless unless interacting with their host.

If they were a similar expression of the psyche, they'd be the part that does the repression. They are those that govern power. They watch over the psyche, they regulate its power. Which would make them closer to Erebus than a regular Shadow. Although I find even that highly unlikely.

[Roogle]

Theodore refers to himself as an "Avatar of Power" in Persona 3 Portable and Margaret refers to herself as "one who rules over power".

Elizabeth has a very long ending in Persona 4 Arena that allows you to see things from her perspective. I saw it on YouTube when the game first came out before it was taken down for copyright infringement. Her ending alone was over 20 minutes long!

It is very clear to me that these entities are not bound by the same laws as humans. I think they are creations of some higher power placed under the care of Igor.

[Skyblade]

Yeah, if you look at Elizabeth's story in P4Arena, you really see just how different she is. Power aside, she's not bound by any of the rules of the others, even the Shadows. The walls don't stop her, in fact she doesn't even register them (yet they do stop Teddie).

[Fynn]

In Persona 2 Nyarlathotep, who is a personification of the dark side of the human collective unconscious, uses shadow doubles of your party, and they have all yellow/orange eyes. While Igor and all the other denizens of the Velvet Room are servants of Philemon, who is the light side. Since Margaret and Elizabeth are assistants to Igor, that also makes them servants of Philemon. So I guess, since all of them are formed from our collective unconscious, maybe that's what the yellow eyes mean?