Nyeve
From Zelda Wiki.org
In the fashion of Orca from The Wind Waker, the player participates in a minigame with him. If Link can hit him (without actually hurting him) 100 times, the impostor will give Link a Heart Container. Additionally, if you play the game again, he will reward Link with different things. For example, anything between 100 and 199 will earn you Treasure, and anything above 200 will get you Ship Parts. This can be repeated whenever you want by simply talking to him. You don't have to leave and re-enter after each try.
Nyeve is very important in the trading sequence, as when you give him the Hero's New Clothes, he gives you a kaleidoscope. The kaleidoscope belongs to the Ho-Ho in the bottom left corner of the ship in the Southwestern Sea. He also says he got the telescope from his sister as a joke, but that is really similar to what happened to Link in The Wind Waker.
His and his brother's names are plays on the words "Naive" and "Knave", respectively.
Prince of Red Lions
The Prince of Red Lions is the ship used by Nyeve (a.k.a. Impostor Link) in Phantom Hourglass. Its name and appearance is a play on the King of Red Lions.


