"Song of the New Year's Ceremony - The Legend of Zelda: The Wind Waker HD" is a high quality rip from The Legend of Zelda: The Wind Waker.
The rip is a mashup of "Watch Me (Whip/Nae Nae)" and "Snow halation". At 0:52, the vocals of "Watch Me" are autotuned to melody of the chorus of "Snow halation". The melody of "Meet the Flintstones" can be heard faintly at 1:33.
Footage from Silentó's appearance in New York Times Square for New Years 2017 also appears in the rip.
No content from The Legend of Zelda: The Wind Waker actually appears in the rip.