Index: wp-includes/link-template.php
===================================================================
--- wp-includes/link-template.php	(revision 42997)
+++ wp-includes/link-template.php	(working copy)
@@ -4282,11 +4282,51 @@
  * @return string The URL to the privacy policy page. Empty string if it doesn't exist.
  */
 function get_privacy_policy_url() {
+	$url            = '';
 	$policy_page_id = (int) get_option( 'wp_page_for_privacy_policy' );
 
 	if ( ! empty( $policy_page_id ) && get_post_status( $policy_page_id ) === 'publish' ) {
-		return get_permalink( $policy_page_id );
+		$url = get_permalink( $policy_page_id );
 	}
 
-	return '';
+	/**
+	* Filters the URL of the privacy policy page.
+	*
+	* @since 4.9.6
+	*
+	* @param string $url  The URL to the privacy policy page. Empty string if it doesn't exist.
+	* @param int    $file The ID of privacy policy page.
+	*/
+	return apply_filters( 'privacy_policy_url', $url, $policy_page_id );
 }
+
+/**
+ * Displays the privacy policy link with formatting.
+ *
+ * @since 4.9.6
+ *
+ * @param string $before Optional. Display before privacy policy link. Default empty.
+ * @param string $after  Optional. Display after privacy policy link. Default empty.
+ * @param bool   $echo   Optional. Whether or not to echo the return. Default true.
+ *
+ * @return string|void HTML content.
+ */
+function the_privacy_policy_link( $before = '', $after = '', $echo = true ) {
+
+	$link = '<a class="privacy-policy-link" href="' . esc_url( get_privacy_policy_url() ) . '">' . __( 'Privacy Policy' ) . '</a>';
+
+	/**
+	* Filters the privacy policy link.
+	*
+	* @since 4.9.6
+	*
+	* @param string $link The edit link.
+	*/
+	$link = $before . apply_filters( 'get_privacy_policy_link', $link ) . $after;
+
+	if ( $echo ) {
+		echo $link;
+	} else {
+		return $link;
+	}
+}