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As a trio, Xerneas, Yveltal, and Zygarde are based on the myth of Yggdrasil.
>Xerneas is (obviously) based on the tree of life, while Yveltal is based on the falcon that rests atop its branches and delivers judgement to the world below.
>Zygarde is based on Nidhoggr, the dreadful dragon that lives underground and chews away at the tree's roots. On the day of Ragnarok, when the gods perish, Nidhoggr will finally destroy the tree and bear witness to the primordial chaos the world is returned to.
As a trio, Zygarde's three forms are based on the children of Loki, fated to bring ruin to the gods on the day of Ragnarok.
>Zygarde-10 is based on Fenrir, the wolf whose jaws reach from the earth to the sky. Its signature move, Thousand Arrows, allows Zygarde to strike down flying opponents. On the day of Ragnarok, Fenrir will break from its chain and devour the heroes of past and present.
>Zygarde-50 is based on Jormungandr, the great serpent that encircles the Earth in its coil. Its signature move, Thousand Waves, prevents enemies from escaping its coil. On the day of Ragnarok,Jormungandr will bare its fangs and devour the gods themselves.
>Zygarde-100 is based on Hel, the great giant who acts as the threshold between life and death. Half of her body is black and half is white, as she exists halfway between life and death - half of Zygarde-100's body is blue (Xerneas) and half is red (Yveltal) to demonstrate the same thing. The Pokedex insists that Zygarde-100 hold dominion over both Xerneas and Yveltal, though don't actually fight Xerneas with it. On the day of Ragnarok, Hel will unbind the realm of the dead and allow them to walk the earth again.
It's notable that Zygarde is based on the bad guys of the original myth, despite being the good guy in the story of the Pokemon XYZ anime. Pokemon also has no equivalent for Ratatoskr in the myth of Yggdrasil, and we know that Zeraora is "starring" in PLZA, so it's possible that Zeraora is meant to be a stand-in for Ratatoskr.
