There aren't any official Legend of Zelda action figures. Haven't been for a very, very long time. Going by the quality of this custom piece, maybe it's time for that to change.
Toysmith BDCdiesel has built this Twilight Princess version of Link out of the remains of cannibalised figures like a Daredevil, Final Fantasy's Cloud, a Frodo Baggins, Metal Gear's Raiden and Resident Evil's Claire Redfield. The finer details, like the chainmail, hair and green hat, were all built from scratch.
Link (Twlight Princess) Custom Action Figure [FigureRealm, via Toycutter]
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