You mean it looks similar to this?
I don't think it looks much like Majora's Mask at all. You'd have to disregard the bottom half of the pendant, and for the top half, the part that protrudes at the bottom of it (that would presumably represent the colorful spikes on the mask) are not shaped like those spikes, and there's no gap at the center bottom but rather the diamond shape is even more emphasized there.
Majora's Mask is my favorite Zelda game though so I would love for there to be Majora elements in this game, and that it would be darker and more focused on side stories like that game was.
As has been pointed out, the pendant and design on the pedestal are actually the Crest of the Gerudo, so I now believe any possible correlation to Majora to be ambiguous after all.
However, note the dots in the Crest on the pedestal and the bordering around the details in the last screenshot. It has me now wondering if the designs aren't at least related, but I think now that the body may be Ganondorf instead. It's, at the very least, definitely Gerudo-related.