Game Ending Text:

This part is every word spoken by every character that speaks at the end of the game.

HMS = The Happy Mask Salesman
SK = The Skull Kid

Link awakens in Termina field. The four giants are standing over Clock Town. The Skull Kid is back, without Majora's Mask. Tael and Tatl are present as well.

SK = You guys...
You hadn't forgotten about me?
SK = You still thought of me as your friend?

The 4 giants sing the Oath to Order as they walk back to their respective territories.

SK = (to Link) Did you...
Did you save me?
SK = I thought they didn't want to be friends with me (talking about the 4 giants)...
SK = But...
They hadn't forgotten about me...
Tael = Friends are a nice thing to have...
Heh, heh.
SK = (to Link) Could you be my friend too?

The Skull Kid waddles over to Link, smells him, and laughs.

SK = Eh - hee - hee... You have the same smell as the fairy kid who taught me that song in the woods...
SK = I know, I know!
Let's do something!

The Happy Mask Salesman comes into the picture, clasping Majora's Mask.

HMS = Oh... So the evil has left the mask after all...
HMS = Well, now... I finally have it back.
HMS = Since i am in the midst of my travels...
I must bid you farewell.
HMS = Shouldn't you be returning home as well?
HMS = Whenever there is a meeting, a parting is sure to follow. However, that parting need not last forever.
Whether a parting be forever or merely for a short time...
That is up to you.
HMS = With that, please excuse me...
HMS = (to Link) ...But, my, you sure have managed to make quite a number of people happy.
HMS = The masks you have are filled with happiness.
This is truly a good happiness.

The Happy Mask Salesman begins to walk away and then vanishes.

Tatl = (to Link) Well, both of us have gotten what we were after...
So this is where you and I part ways isn't it?
Tatl = You know... it was kind of fun.
Tatl = Well... it's almost time for the Carnival of Time to begin...
Tatl = So, why don't you just leave and go about your business?
The rest of us have a carnival to go to.

Link nods his head and hops on Epona and starts his journey home.

Tatl = (screams) LINK!...
Tatl = (quietly) ...Thank you.

The fireworks for the Carnival of Time begin in the background as the credits roll. It then continues to show everyone Link has helped throughout his journey, the Carnival of Time and the events taking place and the people there, it shows the wedding of Anju and Kafei. It then shows Link riding through the Lost Woods on Epona; he speeds up he glimpses a tree stump with a carving of a picture of Link and the Skull Kid dancing gayily in the woods. The credits end and the words THE END appear on screen, and the game is done.