Board Thread:Spoilers!/@comment-2153169-20140402112823/@comment-8345449-20140418112410

WinterWoodsGal wrote: Does anyone but me think that she is going to switch Charming Baby with her baby self, and then switch her baby self with baby Regina? And do who knows what with baby Regina...

Maybe the twist is that Regina is the true first-born of Cora. So Zelena switches Regina (who she thinks is her baby self) for Charming's baby. Cora abandons Charming's baby who is picked up by the Good Witch of the South, brought back to Oz and raised so that she becomes the Good Witch of the North (which explains why Glinda looks so much like Emma).

Then like you said, Zelena switches Zelena-baby (who is actually Henry's daughter and Cora's 2nd born) for Regina-baby (who Zelena thinks is herself). She then sends Zelena-baby (who she thinks is Regina) to Oz using a green hurricane (maybe the reason why the baby is so powerful is that she absorbed some of her own magic from her adult-self), reason being she wants Regina to suffer as she did. And then the woodsman couple find the baby and everything happens as per what we see.

The hooded figure that the Wizard showed Zelena was actually herself (not Cora) stealing her baby-self away. So Zelena does all these and then travels back to the future thinking now she has everything she has ever wanted. But oops, she finds out she is back to square one and everything was her own fault because she swtiched her happiness away.