Owl Void Warping is a method of loading an alternate scene setup of certain areas. Alternate scene setups are modified versions of areas which are used primarily for cutscenes, such as the credits or title screen. They may have additional, missing, or moved actors.
If you void out on a specific frame after saving at an owl statue, you will be taken to scene setup 1 of that area. Leaving the area will take you to the title screen. This is currently possible in 3 areas: West Clock Town, Ikana Canyon, and Zora Cape.