Waterfall of Wishing
The Waterfall of Wishing is a located featured in A Link to the Past.
The Waterfall of Wishing is located at the northeast portion of Hyrule beyond the Magic Shop. As Link reaches the Magic Shop there are a series of Post Signs indicating that the Waterfall of Wishing is just ahead. If Link continues beyond the Waterfall of Wishing he can reach Zora's Waterfall.
At the northwest portion of the Waterfall of Wishing there is a waterfall that Link can swim inside of. Link will need to have the Flippers in order to access this Mysterious Pond. Inside, Link will find a Great Fairy who is a friend of Venus. Link is able to toss an item into the Mysterious Pond, causing the Great Fairy to appear. If Link is honest and says that he threw the particular item in, the Great Fairy will reward Link with an upgraded item.
There are three items that Link can acquire here. If Link throws in the Boomerang, he will get the Magical Boomerang in return. If Link throws in his Fighter's Shield, he will get the Red Shield in return. If Link throws in a Magic Bottle, he will get a Magic Bottle filled with Green Potion in return.
Within the Mysterious Pond at the Waterfall of Wishing.