Um..well, you know it could be argued that all of Hyrule in Zelda 64 is a giant island floating in the sky. If you need proof, first get Swordless Link, then ride Epona to the entrance of Lake Hylia, but don't go there. Instead, use the hookshot while on Epona (you can do this with Swordless Link), and latch onto the ladder by the wall. Then dismount Epona, and you'll rise into the air. Now use the analog stick to move around outside the playing field. You'll float out into the sky, and if you maneuver around the right way, you'll see all of Hyrule Field is just one big island floating in the sky!!
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