Simple guide for setting up OTG modes on the Raspberry Pi Zero - By Andrew Mulholland (gbaman).
The Raspberry Pi Zero (and model A and A+) support USB On The Go, given the processor is connected directly to the USB port, unlike on the B, B+ or Pi 2 B, which goes via a USB hub.
Because of this, if setup to, the Pi can act as a USB slave instead, providing virtual serial (a terminal), virtual ethernet, virtual mass storage device (pendrive) or even other virtual devices like HID, MIDI, or act as a virtual webcam!
It is important to note that, although the model A and A+ can support being a USB slave, they are missing the ID pin (is tied to ground internally) so are unable to dynamically switch between USB master/slave mode. As such, they default to USB master mode. There is no easy way to change this right now.
It is also important to note, that a USB to UART serial adapter is not needed for any of these guides, as may be documented elsewhere across the int