I've written enough comments that I think I should just turn them into an answer:
To make a Satake diagram we first fix a Cartan involution $\tau$ of our real Lie algebra $\mathfrak{g}$ and write $\mathfrak{g} = \mathfrak{k} \oplus \mathfrak{p}$ for the $\pm1$ eigenspaces of $\tau$. Note $\mathfrak{k}$ here is just a maximal compact subalgebra.
Take a maximal toral subalgebra $\mathfrak{a} \leq \mathfrak{p}$ (We call such subalgebras split -- alternatively split means diagonalisable over $\mathbb{R}$). Extend $\mathfrak{a}$ to a full Cartan subalgebra $\mathfrak{h}\leq \mathfrak{g}$ such that $\tau \mathfrak{h} = \mathfrak{h}$. Now we can complexify and make the root system for $\mathfrak{h}^\mathbb{C}\leq \mathfrak{g}^\mathbb{C}$ and draw its Dynkin diagram.
Note that both the real structure (a.k.a complex conjugation) and our Cartan involution give natural actions on this root system since they both preserve $\mathfrak{h}$ so we can divide our roots up into imaginary, real and complex ones. Alternatively we can call roots which are $0$ on $\mathfrak{a}$ "compact" and these turn out to be exactly the imaginary ones. The other roots ("non-compact") are either fixed by the real structure or swapped with another root. So on our Dynkin diagram we colour the compact roots in and draw arrows between the roots swapped by the real structure.
In the example given the complex Lie algebra $\mathfrak{sl}(2,\mathbb{C}) \oplus \mathfrak{sl}(2,\mathbb{C}) \cong \mathfrak{so}_4$ has Dynkin diagram given by 2 unconnected nodes. So we have real forms given by:
- $\mathfrak{sl}(2,\mathbb{R}) \oplus \mathfrak{sl}(2,\mathbb{R}) \cong \mathfrak{so}(2,2)$, the split form - diagram looks like the Dynkin diagram (always true for the split form)
- $\mathfrak{su}(2) \oplus \mathfrak{su}(2) \cong \mathfrak{so}(4)$, the compact form - both nodes are black (always true for the compact form)
- $\mathfrak{sl}(2,\mathbb{C}) \cong \mathfrak{so}(3,1)$, viewed as a real Lie algebra - two white nodes joined by an arrow. Think of this as the two complex $\mathfrak{sl}(2,\mathbb{C})$ being complex conjugate to each other.
- $\mathfrak{sl}(2,\mathbb{R}) \oplus \mathfrak{su}(2) \cong \mathfrak{so}^*(4)$, the quaternionic one - diagram is $1$ black node and $1$ white.
In fact this is all the possible Satake diagrams we could have naively tried so we are certainly done.
In general not all possible diagrams give actual real forms (and over different fields the valid Satake-Tits diagrams will be different even though the Dynkin diagrams are the same) but there are some rules such as the diagram being invariant under the "opposition involution" which cuts down the possibilities. You can read more about that here. The opposition involution is exactly the thing that encodes duality.
Tables of Satake diagrams can be found in Helgason's Differential Geometry, Lie Groups and Symmetric Spaces as Well as Onishchik and Vinberg's Lie Groups (volume III, I think).