Zelda: The Minish Cap

Sword - Link's basic attack weapon.  We know the spin attack, and the long range beam return in The Minish Cap.

Shield - Link's basic form of defense.

Roc's Cape - Allows Link to jump and glide a short distance, good for crossing small pits.

Pegasus Boots - Allows Link to run really fast, and dash into things, sometimes knocking other items loose.

Ocarina of Wind - Link can play this to warp around the overworld, similar to the use of the flute in A Link to the Past.

Mole Mitts - Allows Link to dig in the ground as well as through certain obstacles.

Gust Jar - Link uses this to pull items towards him, destroy spiderwebs that are blocking jars, and defeat some enemies that are already weakened.

Flame Lantern - Not revealed yet, but more than likely it functions similar to the Lantern in A Link to the Past, lighting nearby torches.

Cane - Unkown at this time, possibly a Cane of Somaria or Cane of Byrnia remake?

Bottle - Allows Link to store health and magic restoring potions, or faries, which can restore his health or revive him if he dies.

Boomerang - Stuns enemies and can be used to retrieve items out of Link's reach.

Bombs - Powerful explosive that can destroy some walls, and deal massive damage to most enemies.

Bow and Arrow - Basic weapon used to attack enemies.