This technique allows you to cross certain gaps, especially those you cannot do Formation Hovers on. There are two types to differentiate:
This version does not require any boundaries, but successful usage of this trick is very limited due to two factors to consider:
1) The gap's width may not surpass 5 tiles
2) You can only cross downwards or to the right.
Setup: Pick up Green with any Link (preferably Red though, since it is the fastest way) and throw him to the right, or downwards.
While Green is midair, hold C-Right (for crossing to the right) or C-Down (for crossing downwards) to call the other Links to Green and perform a well timed Jump Slash to add even more momentum.
If done correctly, Purple should touch the other side, but then drops down with the others. Press X to avoid the reuniting effect, and watch how Purple will respawn on the other side of the gap.
This technique does not include the Jump Slash trick, instead the Links simply "roll over a gap". It is limited to gaps that have walls to their right, or at the bottom.
Setup for crossing horizontally:
Stay close to the ledge, in C-Down formation. Then pick up Green with Red, but dont change Red's position. Throw Green towards the gap, and hold C-Down when Green is midair, so the others will be dragged onto the gap as well. Now mash R until you see Green touching the other side, or if only Purple makes it, let him drop down and press X to interrupt the reuniting effect.
Setup for crossing vertically:
Works analogously, just replace C-Down with C-Right. There is also a method that uses C-Up, but has questionable consistency (maybe?).
This example demonstrates the Wall-less and Wall-restricted versions: