The Legend of Paper Zelda

As you might expect, this idea is a combination of The Legend of Zelda and Paper Mario. The basic idea that is common in Zelda games would remain, but characters like Ganon and Link, as well as minions like goblins and carnivorous plants, would take on the paper format established in the Mario titles. The environment will also show this; for example, if Link threw the Gale Boomerang at an enemy, it would do damage by flipping around the paper enemy.

New items might be implemented with this title, just as in the Paper Mario series, in order to make the terrain a bigger part of the game. Perhaps Link could acquire a shovel and use it to to dig things up, or maybe he could destroy walls with bombs.

Plot
The plot would fit the Zelda pattern, but it would also fit the whimsical paper world in which it's based.

My idea is to have Ganon seeking possession of the Triforce Pencil, an enchanted object which would allow the user to bend space and time, rewriting (no pun intended) recent history to make Link and Zelda disappear, and make himself the ruler of Paper Hyrule, enforcing his authority by using the pencil to make gruesome enemies in the thousands to carry out his evil will.

Link would probably be younger here than in Twilight Princess, but only because a paper appearance would probably result in a young appearance one way or another.

Characters
The theme of this would be in many ways similar to Super Paper Mario, with one similarity being the abiliy to play as multiple characters. This roster would include Link (obviously), Zelda, and perhaps a character like Groose or maybe Impa.

Gameplay
As mentioned before, this game is similar to a good degree to Super Paper Mario. The gameplay would adopt the option of switching between 2D and 3D viewing angles, in order to resurrect the style of play in Zelda II: The Adventure of Link, but also provide the 3D graphics which is now the more popular in the franchise.

However, I may also feature the exploration factor in the first Paper Mario title, and I'm considering the availability of round-based combat (but only executed in the same way as in Paper Mario).