Real character designs sheets scanned from the "Zelda Box".
A big thanks to Independent Zelda for providing me with these =)

I think the top left Link would have been the better one to use, or they could have at least used the rightmost coloured one if they had to go chibi, his hair looks better.
Just be glad Tetra doesn't look like the top left one.
Ganondorf.
Who would have though the King of Red Lions could have looked like this?!
Heh, fat axe weilding pirate = cool.