That's my favourite look for her as well! It's just so warrior-princess-style and strong-looking! And ultimately, this is what I imagined she SHOULD have looked like before the LoZ series took on the serious look. Toon Zelda from the Wind Waker series comes in a close second though, because cat-eye Link and Zelda are gosh-darn adorable.
I'm thinking of taking on a Ganondorf cosplay this year. What did you use to make the crown and shoulders?