I have seen two different expositions of the meaning of the indices of the Riemann tensor metric:
On the first one, the indices $\color{red}{\mu\;\nu}$ would indicate the tangent vectors to the coordinates defining the sides of the infinitesimally small loop around a point, through which parallel transport takes place, and they are the last two indices:
$$R^{\alpha}{}_{\color{blue}\beta\,\color{red}{\mu\,\nu}}$$
while $\color{blue}\beta$ is the basis vector being transported. Further, both $\alpha$ and $\beta$ would come from the Christoffel symbols.
On the second one, it is the very last index that corresponds to the vector in the basis vector that it is undergoing parallel transport, whereas $\beta \, \mu$ would define the loop.
In either case, after "feeding" the curvature tensor $2$ vectors, say $\color{red}{\vec \mu}, \,\color{red}{\vec \nu}$ the result will be a matrix. Hence, this matrix can be fed a third vector $\color{blue} {\vec \beta}$. So you feed that matrix a third vector, and I suppose it would yield a vector as the output as follows: The physical interpretation of the output vector (after feeding $3$ vectors) is the effect that parallely transporting that third vector $\color{blue} {\vec \beta}$ along the differentially small parallelogram formed by the $2$ first vectors fed to the tensor, $\color{red}{\vec \mu}, \,\color{red}{\vec \nu}$, would have on the third vector $\color{blue} {\vec \beta}$.
The question is two-pronged:
Which one of the two explanations above is correct, and does it make a difference? How do you make sure you get the order correct if it's not standardized?
Is my interpretation of the meaning of the rank $2$ tensor or matrix resultant after feeding two vectors to the curvature tensor correct?