The Wind Waker is the more acurate depiction, though. They've established the character, they had no limitations for his design, and they weren't restricted by how the game handles sprites. I think Tingle's appearance in TWW supersedes all others to date, and in TWW he's shorter than Link, who is about half as tall as most adults.
...but, like I already said, using sprites as opposed to models restricts what you can do.