New magic arrow!

Blood arrow. Kills enemies in an unneccasarily bloody way.

How about a shadow arrow like a previous person said and a arrow combined with all four just making when u shoot a a huge beam that can hit multiple targets cause its strong enough to pierce through them

fire arrows: same as always
ice arrows: same as always
light arrows: same as always
dark arrows: it envelopes the foe in to a dark void being sucked into it
earth arrows: turns your foe into stone
water arrows: turns tour foe into liquid and then you bottle it and sell or drink
grass arrows: it makes vines choke your foes to death
sol arrows: if night you shoot one aiming to the moon and will turn into day
luna arrows: if day you shoot one aiming to the sun and will turn into night
gold arrows: these are rare. using one of these turns your foe into solid stone and by hitting him he will turn to allot of rupees adding up to 300 rupees
triforce arrows: you throw three arrows to the sky and you see the triforce and it starts to rain light arrows(pretty good when attacked by many foes)

well these are my ideas hope you like them

MP would only be included if it were in the game. If not, add 2 to the arrow cost.
Fire Arrow: [2MP,2 arrows] Inflames your enemy, turning them into sacrificial ashes which you can sacrifice at an alter for the Ice Arrows. Also melts ice. Treated as normal arrows while shot underwater.

Ice Arrows: [3MP, 3 arrows] Freezes a foe completely, making them breakable via sword slash or a roll, and meltable with a Fire Arrow. Will also freeze surface water until melted. Also will freeze fire itself, making it throwable.
WARNING: Use underwater will result in immediate death.

Light Arrow: [4MP, 5 arrows] Will instantly destroy any shadow creatures and will brighten the screen temporarily.

Shadow Arrow: [4MP, 5 arrows] Will instantly destroy any light creatures and darken the screen temporarily.

Earth Arrow: [4MP, 2 arrows] The creature is hit with double the power of a normal arrow. When used on the ground, will create a shockwave, damaging all enemies in an extended area.

Leach Arrow: [7MP, 1 arrow] On contact the flower on the arrow head will open up. A vine will then wrap around it's target, making them immobile. You will also recieve 4 hearts when you pick up the arrow, once the enemy is killed.

Water Arrow: [5MP, 1 arrow] Creates a tidal wave, damaging all monsters in an extended area, and also extinguishes all fires. When used underwater, will consume 10MP, creating a typhoon, sucking in all but the strongest creatures.

Living Arrow: [8MP, 7 arrows] An enchanted arrow will locate and destroy the strongest monster in the area and instantly kill it. May be used in combonation with Multiple Arrow. Each additional arrow will cost one MP and one arrow.

Multiple Arrow: [1MP, 1 arrow per arrow shot up to a max of 3] Will begin with a single arrow and add 1 more up to a max of 3 while being charged. When shot, all three arrows will be aimed at the same target, unless there is another very close enemy/enemies.

Lightning Arrow: [5MP, 3 arrows for shot, 10MP, 10 arrows, AND 10 sacrificial ashes for Divine Strike]
When shot at an enemy, will shock them, both hurting and paralyzing them. When shot into the outside air, will cause a divine purple streak to strike every foe within a field-wide region, killing all but the strongest, but paralyzing even the stronger creatures.
WARNING: Will cause instant death if used underwater. Also, if you are hit by the divine strike, 8 hearts and all MP and ashes will be taken from you, as accomidation to the Gods.

Love Arrow: [all MP, 1 arrow]: Will not harm an enemy, but will replenish your life by the amount of MP you used if it strikes an enemy.

Mind Arrow: [8MP, 4 arrows] Whoever it hits will be forced to follow and fight for you. Their attack and life are doubled. You can control up to 3 people/monsters at a time. Arrows will not affect strong-willed humans.