it is the master sword, you get the master sword tempered, and then throw it into the Queen Fairy's fountain and she gives it back improved
The reason I think that it isn't the Master Sword, because the official art of it, looks completely different than the Master Sword. The blade is changed a lot, and the Triforce is flipped upside down on it. Also, at the end of A Link to the Past, Link places a blue sword back into the pedastal of time and not a golden sword. I also don't think that a simple great Fairy can durastically change such a weapon as the Master Sword, I mean common, It was made by a goddess, and forged with the flames from three other goddesses. Also if you look at the official art of the tempered sword, compared to the Master Sword, it looks like crap!! It has huge gashes in it, and the hilt has completely changed. It would be more realistic if the Fighter's Sword was tempered and then either it or an unknown sword were thrown into the pool for the Fairy to upgrade. Also, the Fighter's Sword is on the front cover of the game cartridge, along with the Fighter's shield, and it happens to have an upside down Triforce on it. It would make sence that this Triforce would be pounded out by the blacksmiths, and then restored by the fairy. Also, both the hilt of the Tempered Sword and the Fighter's Sword are wrapped up, while the Master Sword's hilt isn't. The Fairy would have taken this wrap off of the Tempered Sword if were thrown into the pool, because she would repair any damage to the handle.



