This gives me super Mario 64 vibes. Nice. I also get the reference to the art pretty much, except a problem I have with the whole piece is that I feel it's more centered around the lake itself, than the lady. Like it's very mysterious and eerie, like a swamp-ish lake would be. But when a huge majestic woman-fish hybrid would emerge from the lake, I personally picture something that's more epic and grand. There's also a lot of reverb, try to decrease a lot of it to get a better clearance on your sounds. Also I think it's pretty repetitive, a good thing you could do by avoiding that is adding and introducing new instruments and maybe even completely new segments. As of right now I personally don't hear enough instruments to keep me interested for 4 minutes long.