Spotted, fittingly enough, by Zelda Informer, a tenacious group of fans has been toiling away at creating a 2D version of The Legend of Zelda: Ocarina of Time. Oh, and if it is ever completed, it will have multiplayer.
The project is still far from being complete, but this seems to be a very promising start. The team has a video showing the multiplayer in action. Right now, the ream estimates that the project has reached 15% completion. For a full list of current and planned updates, there is a site with monthly updates on the team's progress.
You can download the latest demo version here. Here is hoping Nintendo doesn't squash this project with a cease and desist.
Update 3/9/2018: It seems progress on Ocarina of Time 2D has stalled at about 20% completion. The original collective of fans working on the project seems to have gone its separate ways, though a few members say that they have plans to come back to it. Most recently, a fan dev under the name Link.57 posted a little under a year ago to talk about taking the project back up.
The good news is that it doesn't seem like Nintendo hit the fans with a cease and desist, so there's still some chance that we'll see Ocarina of Time 2D in the light of day.