Actually, it was not the Gerudos banished to the Twilight Realm. If one of the Sages was a Gerudo (Nabooru, Sage of Spirit), she would not banish her on tribe to the Twilight Realm along with the other Sages, especially since the Gerudo became good. The Twilis are actually the Minish who attempted to invade the Sacred Realm in Minish Cap, and Vaati was their leader. Notice how similar the Twilis and the Minish look.
Also, the only reason the Sages look like that, honestly, is because they probably all died and that is their remaining spirit. Futhermore, the event of Ganondorf's banishment was definitely the same in OoT and TP. In OoT, it showed Ganondorf floating in a white background cursing Link and the Sages. In TP, it examined that event in greater detail of how Ganondorf was banished. That cutscene was actually Link's imagination, like the cutscene about the invaders of the Sacred Realm after the Lakebed Temple, and Link simply imagined the Sages taking that form.
In addition, Scott!, Majora's Mask and Twilight Princess could not happen in the same timeline, because they are both continuations of the split ending of OoT. In MM, Link begins his new childhood he was warped to by Zelda. In TP, the Triforce of Courage is passed to the next Link of Ordon Village, and Ganondorf returns from the "Evil Realm". Besides, on the Majora's Mask side of the timeline, if Ganondorf returns from the Twilight Realm, when is he banished to begin with? That side of the timeline excludes the banishment at the end of OoT since Link is warped 7 years before that, so there is no place Ganondorf could be banished from.
Here is my timeline theory:
HYRULE B
Minish Cap
(Hyrule is at war and Vaati and the Minish are banished)
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Ocarina of Time
(Ganondorf invades the Sacred Realm, the Triforce splits into 3 pieces, Link is warped from Hyrule, and Ganon is banished to the Twlight Realm)
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Twilight Princess
(The Triforce of Courage goes to Ordon Link, and Ganondorf returns from the Twlight Realm with the Minish)
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?
(Ganondorf fakes his death and somehow Hyrule floods into the Great Sea)
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Wind Waker
(The new Link, Outset Link, find the Triforce of Courage and defeats Ganondorf)
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Phantom Hourglass
(Link's new journey on the Great Sea)
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Spirit Tracks
(Link somwhow begins riding a train)
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Oracle of Ages
HYRULE A
Minish Cap
(Hyrule is at war and Vaati and the Minish are banished)
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Ocarina of Time
(Link awakens, obtains the Ocarina of Time, and escapes Hyrule)
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Majora's Mask
(Link is transported to Termina, where he stops the Moon from falling)
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Link's Awakening
(Fearing Ganon's reign over Hyrule, he sails back to Hyrule)
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The Legend of Zelda
(Link's quest to defeat Ganon)
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Zelda II
(Link's quest to defeat Ganon continued)
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Link to the Past
(Minish escape from the Twilight Realm and cover Hyrule in darkness)
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Four Swords
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Four Swords Adventures
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Oracle of Seasons