This zelda papercraft is the Skulltula, this paper craft is designed by javierini. Skulltulas are recurring enemies in the Legend of Zelda series. They are sizable spiders that exist in many dark and discreet places, such as caverns or temples, inhabited by other malevolent creatures. A mark in the shape of a skull appears on their abdomen, which seems to be an admonition all for all those who may come in contact with the creature to stay away if they wish for their own safety. When Skulltulas spot a trespasser, they attack it by dropping down from the ceiling with their web.
You can download this zelda paper model from here: The Legend of Zelda - Skulltula Free Papercraft Download