sa vai bhagavataḥ śrīmat
pāda-sparśa-hatāśubhaḥ
bheje sarpa-vapur hitvā
rūpaṁ vidyādharārcitam
saḥ - he; vai - indeed; bhagavataḥ - of the Supreme Personality of Godhead; śrī-mat - divine; pāda - of the foot; sparśa - by the touch; hata - destroyed; aśubhaḥ - all inauspiciousness; bheje - assumed; sarpa-vapuḥ - his snake body; hitvā - giving up; rūpam - a form; vidyādhara - by the Vidyādharas; arcitam - worshiped.
The words rūpaṁ vidyādharārcitam indicate that the erstwhile snake appeared in a beautiful form worshipable among the demigods called Vidyādharas. In other words, he appeared as the leader of the Vidyādharas.