To be able to get the chest that shows at the circled location, you'll need the Clawshots. Head toward the entrance of the Waterfall Cave. To your left, you should see a floating island just above you with some vines hanging on the side. Use the Clawshots on the vines to grab it and climb up on. You can reach the chest then.

To be able to get the chest that shows at the circled location, you'll need the Clawshots. Head toward the entrance of the Waterfall Cave. To your left, you should see a floating island just above you with some vines hanging on the side. Use the Clawshots on the vines to grab it and climb up on. Keep climbing until you reach the highest point, the island with the waterfall. You can reach the chest then by jumping to the island that has it.