Conjuering items probably isn't the right step for your game right now. The first thing you should always do when developing a game is write a story, while Zelda games aren't as story driven as RPGs it still helps the development process. As far as items go, you could think of what dungeons your game will consist of and what overworld obstacles you want, the items should fall into place. I suppose I could contribute still though. I'm going to describe a few items that could work...
-Lightning Rod=A magic rod with electric projectiles that serve both a combat and adventure purpose.
-Toy Octork=As unepic as it sounds, it would basically be like a slingshot, that looked like an octorok.
-Magnet Boots=Used to scale large metallic walls, and some rock cliffs with adequate iron in them.
-Flail=A large spiked ball attached to a chain, could deal massive damage, but render link defenceless.
-Rain Stick=Would replace song of storms, could serve several interesting purposes.
