Waking Tink is done in Tinkerbell's Treasures- the store behind the castle to the left. The first child (or children) in the morning gets to "wake" her up. You tap her box with a wand and she "flies" around the store. You don't actually get to meet her. To do it you have to get there very quickly.
Ok,
I am an adult who is in love with all things Tinkerbell. I went to the store and asked the CM at the register if I could see Tink. She directed me to a small dresser with a keyhole where i peered inside and in few second Tink appeared.
Very cool experience.