The Fairy Ocarina is an item currently exclusive to Ocarina of Time. It is the first that Link acquires, being later followed by the Ocarina of Time which can play several news songs. He receives the Fairy Ocarina as a child outside the entrance to Kokiri Forest from his childhood friend Saria as a goodbye before his quest to find the Spiritual Stones. A basic Ocarina, it is brown in colour and used to play several songs learned during Link's travels. After Link acquires the Ocarina of Time, the Fairy Ocarina is replaced by it on the items screen. No explanation is given of what Link does with the Fairy Ocarina following this.
Related ThreadsOcarina of Time walkthrough - last post by @ Mar 14, 2003
Five-Minute Legend of Zelda: Ocarina of Time - last post by @ Apr 6, 2006
Nintendo Power Scores Ocarina of Time 3D! - last post by Dark Arcanine @ May 28, 2011
The legend Of Zelda: Ocarina of Time SoundTracks - last post by @ Apr 21, 2007
Zelda OoT - The Running Man Secret? (and the 18 red fairy summons I found) - last post by @ Nov 16, 2007