Both will make holes in paper, equally well. Depending on the gun, both are equally accurate. The .357 has the advantage of using .38 Specials which often can be found as "remanufactured" ammunition at bargain prices. The same is true of the .45 Colt, but slightly higher in price.
Depending on game, and your ability, the .357 Magnum with full house loads is fine for longer shots at varmints such as groundhog and crows, say 75 to 100 yards. With handloads or custom ammunition, in a sturdy revolver, the .45 Colt can dang nigh equal the .44 Magnum. On larger game, it opens up a bigger wound channel for faster bleed-out. And, with monsterous heavy bullets, deep penetration in heavier animals.
My personal pick is the .45 Colt second to the .44 Magnum.
Bob Wright