Hover Boots
Found in OoT. The Hover Boots allow you to hover across distances for a little more than a second. They allow you to walk on thin air and hover over water. They can be found in the Shadow Temple. When they are equipped, they make running quite a task as Link slides all over the place. Wind can blow you easily when you equip these boots. They do prevent you from sinking into the sands of the Haunted Wasteland and Colossus. You must also use them in the Fire, Shadow and Forest rooms of Ganon's Castle.
These boots can be quite amusing, albeit annoying when equipped. Many a Zelda gamer has accidentally walked over a cliff due to the lack of friction produced by this item, only to have the hover effect wear off before they can turn around.
There is a glitch in the game to make you float for long distances until stopped by a solid object. You will need; the Hover boots, bombs, and the Hylian shield (and Nayru's love if you wish not to get hurt a little bit). Just stand with ur back to an edge of anything, but make sure you are right on the edge. Lay down a bomb, push the Z-target button and hold it and pull out your shield with R, so now you are standing with your shield out with the hover boots on before the bomb explodes. (You should have used Nayru's Love before any of this if you do not want the bomb to hurt you a little bit). When the bomb goes off, you should be pushed backwards floating in midair.