Funny Joke

From Zelda Wiki.org

It is the eighth item in the Oracle of Ages trading sequence. This is a yellow ribbon which somehow transforms Link into different shapes and plays odd music. We can only assume this is a verbal joke. Given by the Comedian in Lynna Village in exchange for helping his humour with a Cheesy Mustache. This item is passed on to a sad boy in the Dekadin's House to help cheer him up. In return he gives you the Touching Book.