What do you do when you wake up to find a strange rabbit man in your house? ...Probably call the police.
Anyway, Ravio is a travelling merchant who wound up in Link's house, looking for a place to stay. In place of rent, Ravio gives him a bracelet, which later turned out to grant Link the ability to "Wall Merge". And while Link's out on the usual "rescue the princess and save Hyrule" quest, Ravio does some 'redecorating', and opens up Ravio's Rental Shop... in Link's house, to help the hero in his adventure by renting out items. Just... don't touch his bag. The contents are more important than life itself...
Ravio is, in fact, not a traveling salesman at all. ...Well, not entirely. He is actually Link's counterpart from Lorule, and Princess Hilda's loyal servant.
After overhearing Hilda's plot to steal the Triforce from Hyrule, with Yuga's aid, he fled to Hyrule in search of a hero to stop them, as he lacked the courage to confront them himself. After Yuga's defeat, he returns to Lorule to stop Hilda from attacking, and to talk her out of her plan. As he and Link part ways, Ravio hopes that some of Link's bravery rubbed of on him...
