I saw an amazing Wolf Link costume at Ohayocon 2009 this year. I don't have a link, but I'm sure EBK has some in his Ohayocon gallery.
It would probably be time consuming and costly and take alot of effort to do.
Plus, it would probably be incredibly hot inside. I was wearing a Kasumi cosplay and I was sweating buckets D:
If you do Wolf Link, I'd love to see pictures :]
2009 Cosplay Plans
Seth Nightlord (Trinity Blood)
Scout (Team Fortress 2)
Gunner Yuna (Final Fantasy X-2)