The Zelda Project is twofold: on the one hand it's a group of cosplayers, recreating scenes from Ocarina of Time. On the other hand, the project also has a bigger goal of producing a short film to represent the game, as well.
From their site:
The Zelda Project is a Los Angeles, CA based group of friends who seek to bring to life the characters, settings, and overall feel of Ocarina of Time through photography and film. Our ultimate goal is to create the characters as they would appear in reality to the best of our abilities, placing them in beautiful sceneries true to their Hyrulean counterparts, and creating elaborate photosets, as well as a film short (coming soon! Stay tuned for our Kickstarter project!).
So far the scenes look lovely. The latest update comes from Lon Lon Ranch — a recurring setting that will be familiar to fans of The Legend of Zelda. Observe another below.