Here are the steps to breed special Chocobos. If you want a quick way to breed a gold one....there is no quick way! You must first catch 2, breed 3, catch one more, and finally produce a Gold Chocobo. But, it's not as easy as it sounds. You're gonna need plenty of Gil to buy Greens. The best and only greens you should buy are the Sylkis Greens. Buy these from the Chocobo Sage located in a small house on the Northern Continent. Note: You must already have possession of the Highwind (airship) to reach the Sage's House!
Follow these vital steps and you should have no problem breeding your very own Gold Chocobo:
1.) After obtaining the Highwind fly to the Chocobo tracks located near the Gold Saucer Area. Make sure you have the Chocobo Lure Materia equipped. Note: If you don't know where to find it, buy it from Choco Billy in the chocobo stables at the Farm.
2.) To catch a Chocobo, walk around on the tracks until you find one. Kill the enemies, but don't touch the Chocobo or It'll run away. To make it stay longer feed it any greens you may have. Once you've cought it send it back to the stables. Do this two or three times to assure that you've cought a good chocobo.
3.) Go back to the stables and talk to Choco Billy. Choose "moving chocobos" from the list and put a "good chocobo" in your pen. (If Billy doesn't say,"This looks like a good chocobo," catch another one until he does.)
4.) Next, go to the Mideel Area chocobo tracks. Do the same thing you did in step 2, but this time you need a "great chocobo." Once you've caught 1 GOOD and 1 GREAT chocobo, you're ready to start feeding them. Feed them enough Sylkis greens until there is "no improvement." Once their skills are maxed out.....
5.) ...take your airship to the Gold Saucer. Now that you have your own chocobos, you can race them yourself. Go to the Chocobo Races and, race each chocobo until they reach the "S Class". TIP: Hold down the R1, R2, L1, and L2 buttons during the race to keep your stamina up. Talk to Ester for additional tips on racing.
6.) Increasing your chocobos' race classes ensures a better chance of breeding a special chocobo. Now you need to find a nut. Don't waste your Gil on buying nuts. The only type of nuts you want can't be bought. To mate a GOOD and a GREAT chocobo, you'll need a CAROB NUT. You can purchase one from the lady at Wonder Square in the Gold Saucer for 500 GP or you can find one after defeating a "Vlakorado" found just south of Bone Village in the grass area.7.) Before you actually mate your chocobos, be sure to save your game right outside the farm just in case you don't get the desired chocobo. Mating a GREAT with a GOOD chocobo should give you either a GREEN chocobo (can cross mountains) or a BLUE chocobo (can cross rivers and shallow water). Once you get either of these, you'll have to wait since you can't mate chocobos that have just mated or those that have just been born.
8.) While you wait, go back to the Sage and buy more Sylkis greens. Return to the stables until you are once again able to mate your GREAT and GOOD. This time you will want the opposite of the last chocobo you bred. (Ex: If you bred a BLUE FEMALE last time, this time you want a GREEN MALE.) Save your game before attempting this and keep resetting it and trying again until you get the one you want.
9.) Now that you have a GREEN and a BLUE (1 MALE and 1 FEMALE) you can mate these two with another CAROB NUT. This should produce a special BLACK chocobo. After getting the BLACK chocobo, go to the chocobo tracks on the Northern continent in the snow at the Icicle Inn Area.
10.) You'll want to catch a WONDERFUL chocobo on the snow tracks. Once again, try catching a few until Choco Billy says,"This is a wonderful chocobo!" After you catch a WONDERFUL, you can mate this with your BLACK chocobo using a ZEIO NUT.
11.) Where do you find a ZEIO NUT? On the map you should see a small chain of islands in the far north-east. These are the Goblin Islands. Land near the small patch of woods and walk around until you encounter a Goblin. While in battle steal from one. You should get a ZEIO NUT. Now your set.
12.) Breed a BLACK with a WONDERFUL using the ZEIO NUT and... Congratulations!! If you followed all of the above steps correctly, you should have your very own GOLD CHOCOBO!
EXTRA TIPS!!
E1.) To find the "Knights of Round" summon Materia, you'll need to have the GOLD chocobo. Look at the map in the farthest north-eastern corner. You won't see the island on the map but it's there. So fly there even past the "Goblin Islands" until you reach a circular island with dense woods in the center. Get off your chocobo and enter the cave to get the summon Materia. This is the BEST Summon in the whole game. All that trouble of breeding a gold chocobo has definately payed off!!
E2.) Mating a GOLD chocobo with another GOLD using the ZEIO NUT will produce yet another GOLD chocobo!
E3.) Mating a BLACK chocobo with a GOLD using the ZEIO will give you another BLACK chocobo!