Anna, they have completely different meanings.
"Make from" means to create something.
to MAKE a cake FROM flour and yeast, to MAKE a house FROM wood.
"Make of" means to interpret, 'think of,' or form an opinion about something.
What do you MAKE OF our new neighbor? (What do you think of our new neighbor?")
What do you MAKE OF our current economic situation? (What do you think about...? / what is your opinion about...?)