You must at least have the Mirror, the Hookshot, the Boots and the Moon Pearl. Go to the Dark World graveyard and move to the location where the grave that held the cape was in the Light World. Since there are bushes you do not need your glove. Go to the corner of that little spot and use the Mirror. It will transport you to that same area in the Light World. Now you can simply ram the grave get the cape. Then go back to the warp point to get back out.

Go to Hyrule Graveyard in the Dark World. Go to the pile of rocks at the top that is blocked. Slash one of the two small bushes then use the Magic Mirror to go to the Light World. In the Light World, it will become a tombstone. Be careful of the little flying enemies. Dash at the tombstone and it will move, revealing a staircase. Go down the stairs to find a chest. Open it to get the magic cape. Note: It has limited power, so do not use it all of the time.