Un-named Man
The protagonist of the story is actually never mentioned by name. He is alternately the stranger, the man, the city slicker, according to the point of view of the other character with whom he is interacting. What we do know about him is this; not only is he from the city, but it is obvious that he is from the city. His saddle is one that the "gringo" would use. He dresses differently and he is also strangely confident and arrogant in equal measure. He does not seem to have a concern for his personal safety because he is more than happy to taunt the locals and the supporters of the government by not wearing the mourning pin for the president's wife, and by shaving his sideburns in the shape of the letter U to show tacit support for the opposition.
The man is more passive aggressive than an actual verbal or measurable challenge to anyone in particular. He is brave, but foolhardy in his bravery, and is like the bull who escapes from the slaughteryard. He makes a bid for freedom but like everyone else is yanked back into line and dealt with harshly in the end.
The man dies at the end of the story when a blood vessel bursts due to the stress and fear of his situation. He is worked up, and unable to calm himself because of the threat to his physical safety and the torture he is about to endure. His torture and suffering are a joke and an entertainment to those around him, and he would rather die by having his throat slit than be subjected to the humiliation of public anal rape.
The Judge of the Slaughteryard
Judges are supposed to offer justice; the Judge in this story does the very opposite. He is nothing but a thug and a man of extreme violence. He has lost his decency and his humanity, and to him, the suffering of others is a form of entertainment. He runs the Slaughteryard and his authority is unchallenged. There is nobody governing him and he answers to nobody. Because of this, and because he is clearly motivated by the baying of the crowd, his actions become more and more amoral.
The Butcher
The Butcher is a butcher by profession, in that he slaughters the animals at the Slaughteryard, and a butcher in his psychological make up as well. He loves killing. He brags about killing and everything about him represents what he does. He does not just slaughter the animals but tortures them too. He does not provide food to the crowd, but entertainment.
The Crowd
The crowd is one entity in the story which is deliberate as it demonstrates the fact that in this Federalist nation there is no room for individuality. Each person thinks, acts and behaves as one. Each person in the crowd also acts as they see their neighbor acting which results in most situations escalating into violence and chaos very quickly. The Slaughteryard Crowd want blood, and seem to delight in covering themselves in the blood of slaughtered animals. For many it is a sexual turn-on, and a flirtation. For others, it is a way of fitting in with their fellow citizens. The Crowd have no humanity and no moral compass, which is why they are devoted to their leader.