Effects are cleared when leaving a dungeon.
This includes luting back to entrance and getting a game over.
The Future Hyrule Castle exterior is not part of the dungeon on save files made with the Symphony of the Mask DLC installed.
As a result it counts as leaving the dungeon, clearing all effects.
Shrine of Glass
All non-weapon equipment becomes glass; rings become Ring of Preservation.
Drop: Glass weapon (reloading floor rerolls it); Octavo & Yves get 1 Diamond instead
Shrine of Peace
All enemies downgrade by one tier. All non-weapon equipment is lost.
Spawns a fairy.
Drop: 3 Hearts
Shrine of Conga
An extra beat is added to the rhythm between the 3rd and 4th beats, changing the rhythm to 1 2 3-and-4 from 1 2 3 4.
Spawns Hover Boots, Nayru’s Ring, Obsidian Torch and Auto-shovel.
Drop: Diamond
Shrine of Death
Everything, including player and bosses, dies in one hit.
Drop: Ring of Risk
Shrine of Blues
All enemies are changed to blue/dark blue counterparts. Depending on enemy, this may make them more or less threatening.
Drop: 5 Blue Rupees
Shrine of Coral
Changes all pits and lava to deep water, and poison water, ice, and coals to shallow water.
Drop: Iron Boots
Shrine of Mystery
All enemies and items are replaced with question marks.
Spawns Torch of Wisdom and Ring of Piercing.
Drop: Random Scroll
Shrine of War
Occasionally spawns enemies until activated. Upgrades all enemies by one tier.
Spawns Boots of Power and Ring of Defense.
Drop: Lit bomb