Here's a short explanation for each phrase:
"I'll take an arm": This phrase isn't commonly used, but it might be a humorous or exaggerated way of expressing that something is very expensive, similar to the idiom "costs an arm and a leg," meaning something is very costly.
"What am I made of... money?": This is a rhetorical question people use to express that they think something is too expensive or to suggest that they don't have unlimited funds to spend. It's often said in a joking or sarcastic way.