Maybe something like
mm = {a, b};
Or @@ Flatten[Outer[#1 == mm[[#2]] &, {a, b}, {1, 2}]]
or
Or @@ Flatten[Outer[#1 === mm[[#2]] &, {a, b}, {1, 2}]]
But unless you can show why you need to use Part
to check every target location, I'd suggest an entirely different strategy:
ContainsAny[mm, {a, b}]
Or if you want to test against a sublist:
nn = {a, z, b, y};
ContainsAny[Take[nn, {2, 3}], {a, b}]
Or if the sublist is not contiguous:
ContainsAny[nn[[{1, 4}]], {a, b}]