Love the art style, and the Zelda-esque elements look great! That boomerang! ;)
I really like the idea of shaping the sort of weapon you want to use. You also made it so you don't have to do it every time (which I thought initially) so it doesn't get in the way of using the currently equipped weapon.
This is also an elegant solution to avoid having to go into inventory menus (cough A Link To The Past cough) to equip objects, instead using a game mechanic to do it.
I would be very keen to see a full-blown dungeon, more shape options, maybe even spell casting or element (fire, water, etc) variations. So many possibilities!