Coming from a fan-submitted Q&A with Eiji Aonuma...

Q: Yuga is the main villain in the game. What can you tell us about his origins?

EA: The name “Yuga” is derived from the Japanese word for oil paintings because he has the ability to use magic to turn people into paintings. We wanted the character concept to be a crazed artist and so we made him into an unusual character where you can't quite tell if he is supposed to be male or female. He might be close to Ghirahim from Skyward Sword in terms of having an over inflated self-importance.

Q: Who is Mother MaiaMai and how did all her babies get spread all over Hyrule and Lorule?

EA: She is shrouded in mystery. I don't actually know myself exactly why she looks like she does. However, as the question mentioned, she exists in both Hyrule and Lorule and we thought it would work well to make her a bit different from other characters since she has this ability to travel between worlds. So we decided to make her look a bit alien. If you rescue all of the Maiamai then you may learn a little more about her so I would encourage you to play and discover this for yourself.

Aonuma ended the session with yet another Majora's Mask tease.
Oh, one more thing. I see many of you have been asking about a remake of Majora's Mask for Nintendo 3DS. It's nice to see such a strong response to this title and we haven't forgotten about Link's adventures in that world. If you play A Link Between Worlds, you may better understand what I mean by that.

Link