Array[Subscript[\[Lambda], #] &, {3}]

gives

{Subscript[\[Lambda], 1], Subscript[\[Lambda], 2], \

Subscript[\[Lambda], 3]}

However, if I try to generate two lists with different symbols and different lengths, the best I've come up with it

Inner[Function[{a, b},

Array[Subscript[a, #] &, b]], {\[Lambda], \[Mu]}, {2, 3}, List]

which gives

{{Subscript[\[Lambda], 1], Subscript[\[Lambda], 2]}, {Subscript[\[Mu],

1], Subscript[\[Mu], 2], Subscript[\[Mu], 3]}}

If I try to change Function to the # & notation, I run into a conflict in the variables

Inner[Array[Subscript[#1, #] &, #2] &, {\[Lambda], \[Mu]}, {2,

3}, List]

gives

{{Subscript[1, 1], Subscript[2, 2]}, {Subscript[1, 1], Subscript[2,

2], Subscript[3, 3]}}

Any suggestions?