Cotton and cotton blend fabric suits will take paint better than metallic, lycra and spandex ones. You can paint a suit with fabric paints, and seal it by ironing if it's required (from the inside of the suit!). Different brand fabric paints can be very different in quality and ease of use, I suggest using Pebeo fabric paint if you can find some. There must be a place online to buy it. Good luck with the cosplay, Majora's Wrath is an awesome character!
Rei the Guntecher (PSU)
Link from Majora's Mask