Play style and boomerangs. Toon Link or Tink for short, is a much more aggressive character with more agility and options IMO. I just have strong distaste for the cel shaded design. OG link is slower and has more range in his attacks. FYI, they are about the same strength in damage and launch power.
Link is also heavier and less risky to use. While Tink is faster, has somewhat better combo options. As well as unique uses of his boomerang and bombs that OG link doesn't have. I am actually kinda shocked that Link gets more play than Tink, Tink's games are pretty popular too. **Shrugs**
However I would argue that Link's kill options are slightly better than Tink's. I personally dislike fighting Tink a lot. Where Link is only somewhat annoying to me.
@dd I would argue that.