Immediately after throwing/firing the grappling hook or hookshot, it is possible to change your position by pressing L and then holding a direction on the control stick. This is called L-sliding. It can be used to clip by L sliding in a direction that puts a solid object between you and your intended target. This will pull you through the object. Knockback-inducing damage, such as a bomb, is generally used to prevent you from coming out the other side of the object.
If you perform a L-Slide but let go of target during it, you will continue sliding forward with the L-Slide speed. This is called an hookshot slide. You can also change Link's orientation by moving the hookshot and change the slide direction that way (since you always slide forward).