Climb aboard the ship called The Prince of the Red Lion, where a character suspiciously similar to Link can be found. You can fight him if you want, over and over again. Earning a certain amount of hits on him will net you new items. For instance, scoring under 100 hits in the time allotted will net you an item like a Pearl Necklace, or a Princess Crown. More than 100 hits will get you a better item, like a Heart Container.