Lets start: The blade and handle are obviously deformed relative to each other, so you need to straighten. The handle is also a little bent and the edge of the blades(all three) is a little crooked. The blade needs more metallic reflection or it looks like clay. And the boundary between blade and handle is not too well done, it looks like the handle is eating into the blade so try and seperate them with a clear and defined edge. Also, add highlights to fill up the icon or it looks too bland. A blue or green glow around the sai would make it look a lot better.
At present, i dont think this is suitable quality for approval. When making icons, don't rush man, take your time.