Star Metal Tools with advanced upgrade kits vs The Red Mother:
Hatchet - 14 demon blood + 16 volatile glands
Butcher Knife - 15 demon blood + 7 volatile glands
Pick - 15 demon blood + 15 volatile glands
Skinning Knife - 17 demon blood + 0 volatile glands
Pickaxe - 15 demon blood + 4 volatile glands
Snake: 0 demon blood with butcher knife or skinning knife. around 170 demon blood with pick/hatchet on the same rates.
Blue eyed kappa: 52 demon blood with a pick.
Black Yeti: 121 demon blood with a pick / 125 with a hatchet / 0 with a butcher knife (cleaver)
According to the above, it appears that using hatchet/pick/pickaxe is the safest bet