Well, after hearing assorted reviews of Wind Waker (A game which I happen to be okay with because it's relaxing), I notice that almost every review I've read ranging from the "you spend half of your time sailing" to the "Savage Labyrinth rules!!" has some mention of Horseshoe Island, aka "The golf course".
So let us extend this lovely experience into a full game. First, let's all agree that this won't be milking the franchise of anything that could generate a profit. It's for the good of the people. Okay? Good.
Next up: The characters. I guess we'll have Ganon as your competition, but we must decide if this shall be a new Link, or one of the old ones (OoT/MM Link, WW Link, 8-bit, 16-bit, LttP Link). This is important, since any new Zelda game will cause a SARS-esque outbreak of "Zelda timeline" posts. Oh yeah, and Zelda, too. At least she can do something now...
After that: Graphics, since this is quite obviously the chief concern to gamers everywhere. Even moreso than gameplay, since the cel-shading ruined WW (It COULDN'T be the sailing!). Let's just give "realistic" adult graphics to the game. Maybe have a beach course where they all end up in their bathing suits and rumors spread of a naked code. That'll make everyone happy.
Following that: Plot. Ganon is going to win the Triforce Cup, and rule over the 18-hole Hyrule forever! Fortunately, Link and his friends Zelda, Impa, Tingle, Saria, a Goron and a Zora will help him putt to victory. Oh yeah, and there's three tournaments. Din, Nayru, and a secret one which I'm not going to tell you the name of... How'd you guess?
Last, and least in the minds of many: Gameplay. Have Kokiri Wood clubs (With a Deku Leaf as a putter), masks that give you stat boosts, characters that vary in strength and accuracy (i.e. Goron hits far, but he hits into the OB zone every time...), and golf balls made out of Deku nuts, Deku seeds, pearls, Octorok projectiles, and any other round object that appears in at least one of the Zelda games. The ultimate club you get after beating Ganon: The Master 9-Iron!!
Oh yeah, and there's a way to collect trophies of every club, ball, character, course, flag, hazard, tee, and Triforce in the game. It shall be great! >D