- The ending. You've killed the evil Queen and the castle has fallen... but Yorda's been turned into a smoke creature and can't come with you. Then "You Were There" starts playing as Ico dreams about all he and Yorda went through together... Turns into tears of joy when you find out she's okay, of course.
- The backstory is pretty depressing as well. Those poor horned children...
- Taking the connection to Shadow of the Colossus into account, those other children were Ico's relatives.
- It's strongly implied that the Queen has been emotionally abusing Yorda for a long time, convincing the poor girl that she'll die if she tries to leave the castle. Doubles as Fridge Horror.Ico: Are you okay?Yorda: I have angered her...
- After you open the gate and you're slowly walking out because Yorda is injured, and it could all be over but you know it's too good to be true; the bridge opens up underneath you and you're on opposite sides of the gap and you run and jump. Yorda grabs onto your hand (a reverse position of the one you've been in so many times) and slowly a black shadow creeps up onto them. The shadow climbs up Yorda, once it reaches her hand she's forced to let go and as Ico falls you see the Queen rise behind Yorda... for a moment it all feels like it was for nothing.
- Some real Fridge Horror (Or perhaps Fridge Tearjerker.) applies if you consider the game's relation to Shadow of the Colossus. While it's never been confirmed, there's a prevailing fan theory that the Queen is actually Mono from Shadow Of The Colossus, who is given eternal life in a slowly decaying body and mind, and commits various atrocities as a result of this. This means that not only did Wander sacrifice his life, be reborn as a child, and start the curse of horned children, but he also turned the woman that he loved into a malignant force of evil.
Tear Jerker / ICO