Continuity mistake: When Zelda is apologizing to Link for slapping him after she learns of the Moblin attack, Link crosses his arms and looks angry. He has his belt with item pouch draped over his shoulder as he does. When he crosses his arm, his arm goes over the pouch hiding it from view and the belt completely vanishes. It then jump cuts to a close up and suddenly the belt is visible again and the pouch as well, now being across his arm.
Picture added by Quantom X