[Attention, this template is more difficult than it looks due to small parts and some tricky placement. Your best best is to score all lines and consult the PDO where required]
[Addendum: If you want to build this model but are finding it difficult or the instructions inadequate, I suggest looking at the Master Sword included in my Adult Link Equipment Pack. It is a bit easier and still of equivalent size to the small version of this template]
The Master Sword is perhaps Link's most important weapon in his various quests to save Hyrule. In it's Ocarina of Time incarnation, the sword rests in a pedestal inside the Temple of Time, where only a true hero has the ability to remove and wield it. Link uses it as his primary adult weapon and also by placing the sword back in the pedestal, can travel back in time seven years to re-visit (or pre-visit!) areas as a child.
Download Here! (Updated Mediafire link)
I've made two templates, one a hard 13.7cm tall version which matches my standard Zelda scale, and an easier 16.5cm version for those who don't fancy messing around with some small parts.
The sword can indeed be removed and is a full model, though I don't recommend you keep doing it repeatedly as you might damage it.
It's not as easy as it looks and requires some patience with small pieces and accuracy when assembling the internal sheath- otherwise you'll have a wobbly sword that doesn't stand up straight. Hardly the blade of Evil's Bane!
13.7cm - 5-7/10 depending on experience with small parts, not very beginner friendly!
16.5cm - 5/10 (not personally built but I can only assume it is easier because of the size!)