The Shield: You can buy the Deku Shield at the shop( the building with a red roof, close to your house). You need 40 rupees to buy it so start looking! Behind a house on a ledge there will be a blue rupee. That's about the biggest one you can find so far. There are dozens of rupees in the tall grass, on those platforms in the pond, etc.. Also, in some  houses, there will be some treasure chests with blue rupees in them. When you get 40, get the shield!

    Sword: The sword is hidden in Kokiri Forest by the training ground. The training ground is located up the hill by the Know-It-All brothers house. There will be a little tunnel by the guy there and you just have to crawl through. Inside, you have to dodge some rolling boulders (that you will become very accustomed to later in the game) which you will have to dodge. Just go all the way to the right and to that big chest in the corner and TA-DA! You now have the sword. Equip it on the Equipment screen (Press start) along with the sheild.

    Now just walk past that pond, talk to that guy, and go to the Deku Tree. After talking to him, walk inside.