>>717218839
>Why does Link have pink hair?
According to the official SNES manual, he's blonde.
https://archive.org/details/clvpsaaee/page/n7/mode/2up

Concerning graphic/sprite tech limitations on the SNES, it shouldn't have been an issue. It's a simple and small sprite with not that many colors. I can only assume it's a prank or inside joke or that the sprite artist was color blind.