Most people will know that Krawk is a petpet. However, due to the recent discovery, you are now able to mutate your Krawk petpet into a NeoPet!
A Krawk petpet can be obtained via the shop wizard, auctions, trading post, petpet shop, on krawk island or a very nice friend.
Next you...
1) Make sure you do not have 4 NeoPets
2) Attach a Krawk PetPet to one of your NeoPets.
3) Go to your Pet Status Page and Click On Krawk.
4) Once there, name it to your desired Krawk NeoPet Name.
5) Go to http://www.neopets.com/pirates/funguscave.phtml
This is the fungus cave where you will be given the option to feed your Krawk PetPet some special Fungus. Upon eating it, it will mutate into your very own rare neopet Krawk!
Or if you'd like to save some np buy a krawk transmogrification Potion, feed it to a pet and it'll turn into a mutant krawk. Now get a red/blue/green etc paintbrush and paint it. That's a lot of neopoints you just saved!