[proofplan]
We prove the equivalence by constructing the data in each formulation explicitly. Starting from natural hom-set bijections, we transpose identity morphisms to obtain the unit and counit, and naturality of the bijections gives the formulas for transposition and the triangle identities. Starting from a unit and counit satisfying the triangle identities, we define the hom-set bijections by the two displayed formulas and verify directly that the formulas are natural and inverse. Finally, the universal-arrow formulation is exactly the representing property of the same bijections at each object $c$, with functorial variation encoded by naturality in $c$.
[/proofplan]
[step:Transpose identity morphisms to construct the unit and counit]
Assume first that for each $c \in \mathcal C$ and $d \in \mathcal D$ we are given a bijection
\begin{align*}
\Phi_{c,d}: \mathcal D(Fc,d) \longrightarrow \mathcal C(c,Gd),
\end{align*}
natural in both variables. Define a family of morphisms $\eta_c:c \to G(Fc)$ by
\begin{align*}
\eta_c := \Phi_{c,Fc}(\operatorname{id}_{Fc}),
\end{align*}
and define a family of morphisms $\varepsilon_d:F(Gd)\to d$ by
\begin{align*}
\varepsilon_d := \Phi_{Gd,d}^{-1}(\operatorname{id}_{Gd}).
\end{align*}
We verify that $\eta$ is natural. Let $u:c' \to c$ be a morphism in $\mathcal C$. Naturality of $\Phi$ in the $\mathcal C$-variable gives the commutative square comparing precomposition by $u$ on the right with precomposition by $F(u)$ on the left. Applying this square to $\operatorname{id}_{Fc}$ gives
\begin{align*}
G(Fu)\circ \eta_{c'} = \eta_c \circ u.
\end{align*}
Thus $\eta:\operatorname{id}_{\mathcal C}\Rightarrow GF$ is natural.
We verify that $\varepsilon$ is natural. Let $v:d \to d'$ be a morphism in $\mathcal D$. Naturality of $\Phi$ in the $\mathcal D$-variable, applied to $\varepsilon_d:F(Gd)\to d$, gives
\begin{align*}
\Phi_{Gd,d'}(v\circ \varepsilon_d)=G(v)\circ \Phi_{Gd,d}(\varepsilon_d)=G(v).
\end{align*}
Naturality in the $\mathcal C$-variable, applied to the morphism $G(v):Gd\to Gd'$, gives
\begin{align*}
\Phi_{Gd,d'}(\varepsilon_{d'}\circ F(Gv))
=
\Phi_{Gd',d'}(\varepsilon_{d'})\circ G(v)
=
G(v).
\end{align*}
Since $\Phi_{Gd,d'}$ is injective, we obtain
\begin{align*}
v\circ \varepsilon_d=\varepsilon_{d'}\circ F(Gv).
\end{align*}
Therefore $\varepsilon:FG\Rightarrow \operatorname{id}_{\mathcal D}$ is natural.
[guided]
The identities are obtained by transposing the two most canonical morphisms available: identity morphisms. For each $c \in \mathcal C$, the identity $\operatorname{id}_{Fc}:Fc\to Fc$ is an element of $\mathcal D(Fc,Fc)$, so its image under
\begin{align*}
\Phi_{c,Fc}: \mathcal D(Fc,Fc)\longrightarrow \mathcal C(c,G(Fc))
\end{align*}
is a morphism $c\to G(Fc)$. This is the component $\eta_c$ of the unit:
\begin{align*}
\eta_c := \Phi_{c,Fc}(\operatorname{id}_{Fc}).
\end{align*}
Similarly, for each $d \in \mathcal D$, the identity $\operatorname{id}_{Gd}:Gd\to Gd$ is an element of $\mathcal C(Gd,Gd)$. Since $\Phi_{Gd,d}$ is a bijection, it has an inverse
\begin{align*}
\Phi_{Gd,d}^{-1}: \mathcal C(Gd,Gd)\longrightarrow \mathcal D(F(Gd),d),
\end{align*}
and we define
\begin{align*}
\varepsilon_d := \Phi_{Gd,d}^{-1}(\operatorname{id}_{Gd}).
\end{align*}
Now we check that these components assemble into natural transformations. Let $u:c'\to c$ be a morphism in $\mathcal C$. Naturality of $\Phi$ in $c$ says that transposing after precomposing by $F(u)$ is the same as precomposing the transpose by $u$. Applying this to $\operatorname{id}_{Fc}$ gives
\begin{align*}
\Phi_{c',Fc}(\operatorname{id}_{Fc}\circ F(u))
=
\Phi_{c,Fc}(\operatorname{id}_{Fc})\circ u.
\end{align*}
The left side is $\Phi_{c',Fc}(F(u))$, while the right side is $\eta_c\circ u$. Naturality in the $\mathcal D$-variable, applied to $F(u):Fc'\to Fc$, also gives
\begin{align*}
\Phi_{c',Fc}(F(u))=G(Fu)\circ \Phi_{c',Fc'}(\operatorname{id}_{Fc'})
=G(Fu)\circ \eta_{c'}.
\end{align*}
Hence
\begin{align*}
G(Fu)\circ \eta_{c'}=\eta_c\circ u,
\end{align*}
which is exactly naturality of $\eta:\operatorname{id}_{\mathcal C}\Rightarrow GF$.
For $\varepsilon$, let $v:d\to d'$ be a morphism in $\mathcal D$. Naturality in $d$ gives
\begin{align*}
\Phi_{Gd,d'}(v\circ \varepsilon_d)
=
G(v)\circ \Phi_{Gd,d}(\varepsilon_d)
=
G(v)\circ \operatorname{id}_{Gd}
=
G(v).
\end{align*}
On the other hand, naturality in $c$ applied to $G(v):Gd\to Gd'$ gives
\begin{align*}
\Phi_{Gd,d'}(\varepsilon_{d'}\circ F(Gv))
=
\Phi_{Gd',d'}(\varepsilon_{d'})\circ G(v)
=
\operatorname{id}_{Gd'}\circ G(v)
=
G(v).
\end{align*}
Both $v\circ \varepsilon_d$ and $\varepsilon_{d'}\circ F(Gv)$ have the same transpose under the bijection $\Phi_{Gd,d'}$. Since this map is injective,
\begin{align*}
v\circ \varepsilon_d=\varepsilon_{d'}\circ F(Gv).
\end{align*}
Thus $\varepsilon$ is natural.
[/guided]
[/step]
[step:Derive the transposition formulas and the triangle identities]
For every morphism $f:Fc\to d$ in $\mathcal D$, naturality of $\Phi$ in $d$ gives
\begin{align*}
\Phi_{c,d}(f)=G(f)\circ \eta_c.
\end{align*}
For every morphism $g:c\to Gd$ in $\mathcal C$, naturality of $\Phi$ in $c$ gives
\begin{align*}
\Phi_{c,d}^{-1}(g)=\varepsilon_d\circ F(g).
\end{align*}
Applying the inverse formula to $g=\eta_c:c\to G(Fc)$ gives
\begin{align*}
\Phi_{c,Fc}^{-1}(\eta_c)=\varepsilon_{Fc}\circ F(\eta_c).
\end{align*}
But $\eta_c=\Phi_{c,Fc}(\operatorname{id}_{Fc})$, so injectivity of $\Phi_{c,Fc}$ implies
\begin{align*}
\varepsilon_{Fc}\circ F(\eta_c)=\operatorname{id}_{Fc}.
\end{align*}
Applying the forward formula to $f=\varepsilon_d:F(Gd)\to d$ gives
\begin{align*}
\Phi_{Gd,d}(\varepsilon_d)=G(\varepsilon_d)\circ \eta_{Gd}.
\end{align*}
By definition of $\varepsilon_d$, the left side is $\operatorname{id}_{Gd}$, hence
\begin{align*}
G(\varepsilon_d)\circ \eta_{Gd}=\operatorname{id}_{Gd}.
\end{align*}
Thus the triangle identities hold.
[guided]
The naturality of the hom-set bijection determines how every morphism transposes. Let $f:Fc\to d$ be a morphism in $\mathcal D$. Since $f$ is a morphism from $Fc$ to $d$, postcomposition by $f$ sends $\operatorname{id}_{Fc}$ to $f$. Naturality of $\Phi$ in the $\mathcal D$-variable says that this postcomposition corresponds, after transposition, to postcomposition by $G(f)$ in $\mathcal C$. Therefore
\begin{align*}
\Phi_{c,d}(f)
&=
\Phi_{c,d}(f\circ \operatorname{id}_{Fc})\\
&=
G(f)\circ \Phi_{c,Fc}(\operatorname{id}_{Fc})\\
&=
G(f)\circ \eta_c.
\end{align*}
Now let $g:c\to Gd$ be a morphism in $\mathcal C$. We claim that its inverse transpose is $\varepsilon_d\circ F(g)$. The morphism $F(g):F c\to F(Gd)$ is defined because $F:\mathcal C\to\mathcal D$ is a functor and $g:c\to Gd$ is a morphism in $\mathcal C$. Therefore the composite
\begin{align*}
\varepsilon_d\circ F(g):Fc\to d
\end{align*}
is a morphism in $\mathcal D$. Naturality of $\Phi$ in the $\mathcal C$-variable gives
\begin{align*}
\Phi_{c,d}(\varepsilon_d\circ F(g))
=
\Phi_{Gd,d}(\varepsilon_d)\circ g
=
\operatorname{id}_{Gd}\circ g
=
g.
\end{align*}
Since $\Phi_{c,d}$ is bijective, this proves
\begin{align*}
\Phi_{c,d}^{-1}(g)=\varepsilon_d\circ F(g).
\end{align*}
The triangle identities are now forced by applying these formulas to the unit and counit themselves. First take $g=\eta_c:c\to G(Fc)$. The inverse formula gives
\begin{align*}
\Phi_{c,Fc}^{-1}(\eta_c)=\varepsilon_{Fc}\circ F(\eta_c).
\end{align*}
But $\eta_c$ was defined as $\Phi_{c,Fc}(\operatorname{id}_{Fc})$, so the unique morphism whose transpose is $\eta_c$ is $\operatorname{id}_{Fc}$. Hence
\begin{align*}
\varepsilon_{Fc}\circ F(\eta_c)=\operatorname{id}_{Fc}.
\end{align*}
Second take $f=\varepsilon_d:F(Gd)\to d$. The forward formula gives
\begin{align*}
\Phi_{Gd,d}(\varepsilon_d)=G(\varepsilon_d)\circ \eta_{Gd}.
\end{align*}
By the definition of $\varepsilon_d$ as the inverse transpose of $\operatorname{id}_{Gd}$, the left side is $\operatorname{id}_{Gd}$. Therefore
\begin{align*}
G(\varepsilon_d)\circ \eta_{Gd}=\operatorname{id}_{Gd}.
\end{align*}
These are precisely the two triangle identities.
[/guided]
[/step]
[step:Use the triangle identities to recover the hom-set bijections]
Conversely, assume we are given natural transformations
\begin{align*}
\eta:\operatorname{id}_{\mathcal C}\Rightarrow GF,
\qquad
\varepsilon:FG\Rightarrow \operatorname{id}_{\mathcal D},
\end{align*}
satisfying the triangle identities. For each $c \in \mathcal C$ and $d \in \mathcal D$, define maps
\begin{align*}
\Phi_{c,d}: \mathcal D(Fc,d) &\longrightarrow \mathcal C(c,Gd),\\
f &\longmapsto G(f)\circ \eta_c,
\end{align*}
and
\begin{align*}
\Psi_{c,d}: \mathcal C(c,Gd) &\longrightarrow \mathcal D(Fc,d),\\
g &\longmapsto \varepsilon_d\circ F(g).
\end{align*}
For $f:Fc\to d$, using functoriality of $F$ and $G$, naturality of $\varepsilon$, and the first triangle identity, we compute
\begin{align*}
\Psi_{c,d}(\Phi_{c,d}(f))
&=
\varepsilon_d\circ F(G(f)\circ \eta_c)\\
&=
\varepsilon_d\circ F(Gf)\circ F(\eta_c)\\
&=
f\circ \varepsilon_{Fc}\circ F(\eta_c)\\
&=
f\circ \operatorname{id}_{Fc}\\
&=
f.
\end{align*}
For $g:c\to Gd$, using functoriality of $G$, naturality of $\eta$, and the second triangle identity, we compute
\begin{align*}
\Phi_{c,d}(\Psi_{c,d}(g))
&=
G(\varepsilon_d\circ F(g))\circ \eta_c\\
&=
G(\varepsilon_d)\circ G(Fg)\circ \eta_c\\
&=
G(\varepsilon_d)\circ \eta_{Gd}\circ g\\
&=
\operatorname{id}_{Gd}\circ g\\
&=
g.
\end{align*}
Thus $\Phi_{c,d}$ and $\Psi_{c,d}$ are inverse bijections.
Naturality of $\Phi$ in $c$ follows from naturality of $\eta$, and naturality of $\Phi$ in $d$ follows from functoriality of $G$. Hence the unit-counit data determine a natural family of hom-set bijections.
[guided]
We now start with the unit and counit and reconstruct the hom-set bijection. For objects $c\in\mathcal C$ and $d\in\mathcal D$, define
\begin{align*}
\Phi_{c,d}: \mathcal D(Fc,d) &\longrightarrow \mathcal C(c,Gd),\\
f &\longmapsto G(f)\circ \eta_c.
\end{align*}
This sends a morphism $f:Fc\to d$ to the composite
\begin{align*}
c \xrightarrow{\eta_c} G(Fc) \xrightarrow{G(f)} Gd.
\end{align*}
Define a candidate inverse by
\begin{align*}
\Psi_{c,d}: \mathcal C(c,Gd) &\longrightarrow \mathcal D(Fc,d),\\
g &\longmapsto \varepsilon_d\circ F(g).
\end{align*}
This sends a morphism $g:c\to Gd$ to the composite
\begin{align*}
Fc \xrightarrow{F(g)} F(Gd) \xrightarrow{\varepsilon_d} d.
\end{align*}
We verify that these two maps are inverse. Let $f:Fc\to d$. Then
\begin{align*}
\Psi_{c,d}(\Phi_{c,d}(f))
&=
\varepsilon_d\circ F(G(f)\circ \eta_c)\\
&=
\varepsilon_d\circ F(Gf)\circ F(\eta_c),
\end{align*}
where the second equality uses functoriality of $F$. Naturality of $\varepsilon:FG\Rightarrow \operatorname{id}_{\mathcal D}$ for the morphism $f:Fc\to d$ says
\begin{align*}
f\circ \varepsilon_{Fc}=\varepsilon_d\circ F(Gf).
\end{align*}
Substituting this into the previous expression gives
\begin{align*}
\Psi_{c,d}(\Phi_{c,d}(f))
&=
f\circ \varepsilon_{Fc}\circ F(\eta_c).
\end{align*}
The first triangle identity says
\begin{align*}
\varepsilon_{Fc}\circ F(\eta_c)=\operatorname{id}_{Fc}.
\end{align*}
Therefore
\begin{align*}
\Psi_{c,d}(\Phi_{c,d}(f))
=
f\circ \operatorname{id}_{Fc}
=
f.
\end{align*}
Now let $g:c\to Gd$. Then
\begin{align*}
\Phi_{c,d}(\Psi_{c,d}(g))
&=
G(\varepsilon_d\circ F(g))\circ \eta_c\\
&=
G(\varepsilon_d)\circ G(Fg)\circ \eta_c,
\end{align*}
where the second equality uses functoriality of $G$. Naturality of $\eta:\operatorname{id}_{\mathcal C}\Rightarrow GF$ for the morphism $g:c\to Gd$ says
\begin{align*}
G(Fg)\circ \eta_c=\eta_{Gd}\circ g.
\end{align*}
Thus
\begin{align*}
\Phi_{c,d}(\Psi_{c,d}(g))
&=
G(\varepsilon_d)\circ \eta_{Gd}\circ g.
\end{align*}
The second triangle identity says
\begin{align*}
G(\varepsilon_d)\circ \eta_{Gd}=\operatorname{id}_{Gd}.
\end{align*}
Therefore
\begin{align*}
\Phi_{c,d}(\Psi_{c,d}(g))
=
\operatorname{id}_{Gd}\circ g
=
g.
\end{align*}
Hence $\Phi_{c,d}$ is a bijection with inverse $\Psi_{c,d}$.
It remains to check naturality. Let $u:c'\to c$ be a morphism in $\mathcal C$ and $f:Fc\to d$ a morphism in $\mathcal D$. Naturality of $\eta$ gives
\begin{align*}
G(Fu)\circ \eta_{c'}=\eta_c\circ u.
\end{align*}
Therefore
\begin{align*}
\Phi_{c',d}(f\circ F(u))
&=
G(f\circ F(u))\circ \eta_{c'}\\
&=
G(f)\circ G(Fu)\circ \eta_{c'}\\
&=
G(f)\circ \eta_c\circ u\\
&=
\Phi_{c,d}(f)\circ u.
\end{align*}
This is naturality in $c$.
Let $v:d\to d'$ be a morphism in $\mathcal D$. For $f:Fc\to d$,
\begin{align*}
\Phi_{c,d'}(v\circ f)
&=
G(v\circ f)\circ \eta_c\\
&=
G(v)\circ G(f)\circ \eta_c\\
&=
G(v)\circ \Phi_{c,d}(f).
\end{align*}
This is naturality in $d$. Thus the unit-counit data recover a natural family of hom-set bijections.
[/guided]
[/step]
[step:Interpret the hom-set bijections as universal arrows]
Assume a natural family of bijections $\Phi_{c,d}$ is given. For each $c \in \mathcal C$, define
\begin{align*}
\eta_c:c\to G(Fc)
\end{align*}
by
\begin{align*}
\eta_c=\Phi_{c,Fc}(\operatorname{id}_{Fc}).
\end{align*}
For every object $d\in\mathcal D$ and every morphism $g:c\to Gd$ in $\mathcal C$, the bijection $\Phi_{c,d}$ gives a unique morphism
\begin{align*}
\bar g:=\Phi_{c,d}^{-1}(g):Fc\to d
\end{align*}
such that
\begin{align*}
G(\bar g)\circ \eta_c=g.
\end{align*}
Therefore $(Fc,\eta_c)$ is a universal arrow from $c$ to $G$.
Conversely, suppose that for every $c\in\mathcal C$ we are given a universal arrow
\begin{align*}
\eta_c:c\to G(Fc),
\end{align*}
and that the representing objects vary functorially as the values of $F:\mathcal C\to\mathcal D$. The universal property gives, for every $d\in\mathcal D$, a bijection
\begin{align*}
\Phi_{c,d}: \mathcal D(Fc,d) &\longrightarrow \mathcal C(c,Gd),\\
f &\longmapsto G(f)\circ \eta_c.
\end{align*}
The assumed functorial variation in $c$ gives naturality in $c$, while functoriality of $G$ gives naturality in $d$. Hence the universal-arrow data determine the hom-set adjunction data.
[guided]
A universal arrow from $c$ to $G$ consists of an object of $\mathcal D$, here denoted $Fc$, and a morphism
\begin{align*}
\eta_c:c\to G(Fc),
\end{align*}
such that every morphism $g:c\to Gd$ factors uniquely through $\eta_c$ by applying $G$ to a unique morphism $Fc\to d$.
Starting from the hom-set bijections, we define
\begin{align*}
\eta_c=\Phi_{c,Fc}(\operatorname{id}_{Fc}).
\end{align*}
Let $d\in\mathcal D$ and let $g:c\to Gd$ be any morphism in $\mathcal C$. Since
\begin{align*}
\Phi_{c,d}: \mathcal D(Fc,d)\longrightarrow \mathcal C(c,Gd)
\end{align*}
is a bijection, there is a unique morphism
\begin{align*}
\bar g:=\Phi_{c,d}^{-1}(g):Fc\to d
\end{align*}
with $\Phi_{c,d}(\bar g)=g$. By the transposition formula already proved,
\begin{align*}
\Phi_{c,d}(\bar g)=G(\bar g)\circ \eta_c.
\end{align*}
Therefore
\begin{align*}
G(\bar g)\circ \eta_c=g.
\end{align*}
The uniqueness of $\bar g$ is exactly the injectivity of $\Phi_{c,d}$. Hence $(Fc,\eta_c)$ is a universal arrow from $c$ to $G$.
Conversely, assume that for every $c\in\mathcal C$ there is a universal arrow
\begin{align*}
\eta_c:c\to G(Fc),
\end{align*}
and that the objects $Fc$ are the values of a functor $F:\mathcal C\to\mathcal D$. The universal property says precisely that, for every $d\in\mathcal D$, composition with $\eta_c$ after applying $G$ gives a bijection
\begin{align*}
\Phi_{c,d}: \mathcal D(Fc,d) &\longrightarrow \mathcal C(c,Gd),\\
f &\longmapsto G(f)\circ \eta_c.
\end{align*}
Functoriality in $d$ follows because for $v:d\to d'$,
\begin{align*}
\Phi_{c,d'}(v\circ f)
=
G(v\circ f)\circ \eta_c
=
G(v)\circ G(f)\circ \eta_c
=
G(v)\circ \Phi_{c,d}(f).
\end{align*}
The hypothesis that the universal objects vary functorially as $F$ supplies the corresponding naturality in $c$. Thus the universal-arrow formulation recovers the same natural hom-set bijections.
[/guided]
[/step]
[step:Conclude that the constructions are mutually inverse]
Starting with hom-set bijections, the constructed unit and counit give back the same bijections because the formulas
\begin{align*}
\Phi_{c,d}(f)=G(f)\circ \eta_c,
\qquad
\Phi_{c,d}^{-1}(g)=\varepsilon_d\circ F(g)
\end{align*}
were derived from naturality and the definitions of $\eta$ and $\varepsilon$.
Starting with unit-counit data, the hom-set bijections constructed from them transpose identity morphisms back to the original unit and counit:
\begin{align*}
\Phi_{c,Fc}(\operatorname{id}_{Fc})
&=
G(\operatorname{id}_{Fc})\circ \eta_c
=
\eta_c,\\
\Phi_{Gd,d}^{-1}(\operatorname{id}_{Gd})
&=
\varepsilon_d\circ F(\operatorname{id}_{Gd})
=
\varepsilon_d.
\end{align*}
The universal-arrow formulation is the same data viewed objectwise through the same bijections. Hence the three descriptions are equivalent.
[/step]