This sounds right up my alley.

Zelda is named for Zelda Fitzgerald, wife of novelist F. Scott Fitzgerald. The name itself is a short form of "Griselda," from Old High German "grishild" meaning "dark battle" or "gray battle."

The name Link is, as someone pointed out, probably given because he is a "link" between the player and the game world. The word "link" itself comes from Old Norse "hlenkr". Someone suggested that Link is from the adjective "linkshändig" (left-handed) which is an amusing but probably incorrect theory.

Ganon: No idea. The proper name "Gannon" (with two n's) is Celtic in origin and means "fair-skinned." As for "Ganondorf," "dorf" is German for "village" (e.g. "Neudorf," meaning "new village") and is cognate to "thorp" in English place names.

Midna: No idea. Reminds me a lot of Swedish "midnatt" meaning "midnight."

Malon: No idea. Reminds me of the Irish surname "Malone," which is ultimately derived from Irish "Maol Eoin" meaning someone devoted to St. John.

Vaati: Looks Finnish to me. "Vaati" can be a form of "vaatia" meaning "to demand" or "to call for." This probably wasn't what Nintendo meant, however.

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United by the gods, we sail the violent waters
They gave us a sign, a man on a cross
Supposed to save us all, but their minds are forever lost..

"Back to North" - Merciless

"If you're wondering how he eats and breathes / And other science facts / Then repeat to yourself 'It's just a show, / I should really just relax.'"