Buying Your Materia and Your Breeding Stables
Build up a lot of resources by battling foes. Don't rush through the game -- take gil ("FFVII" money) and items from all the random encounters. Purchase the Chocobo Lure materia from the Chocobo Farm for 2,000 gil. Equip it during the random battles to gain materia experience. At Level 3, you are eight times more likely to encounter a chocobo. Rent six stables from the old man at the Chocobo Farm. Each stable costs 10,000 gil.
Gathering Supplies
Find a Steal materia in the Midgar Sewers, or purchase one from the shop in Kalm for 1,200 gil. Although any character can use it, give it to either Cait Sith or Yuffie Kisaragi. Both characters usually take supporting roles in battle.
Visiting the Chocobo Sage
Visit the Chocobo Sage in the Snowy Mountains. His home is just above the Bone Village. Buy 600 Sylkis Greens; they cost 5,000 gil each. These greens increase your chocobo's stats. Explore the area around the Chocobo Sage and find Vlakorados, who carries a Carob Nut. When you're fighting Vlakorados, use the Steal command to get the nut. You'll need three Carob Nuts. You can also trade 500 gil at the Wonder Square for a Carob Nut. Fly to the northeastern island chain and land on the forest-covered one. Find some goblins and steal a Zeio Nut while you fight them.
Catching and Training Yellow Chocobos
Buy 50 Gysahl Greens at the Chocobo Farm and give them to your fastest character. Fly to Mideel and equip the Chocobo Lure. Wander around the tracked area until you encounter a chocobo with two Spirals. Feed greens to the chocobo and attack and quickly kill the Spirals. Mount and ride the chocobo, and then send it to the ranch. Catch two chocobos here. Then, visit the area to the south of Gold Saucer and search for a chocobo with two Spencers. Catch two chocobos in this area as well. Return to the ranch and feed at least 90 Sylkis Greens to each chocobo. Visit Gold Saucer again and race each chocobo until it reaches Class B.
Breeding Green and Blue Chocobos
Before you start breeding, save the game, as chocobo sexes are randomly determined. Your Gold Saucer chocobos will be "Good," and the Mideel chocobos will be "Great." Mate a Good female chocobo with a Great male chocobo using a Carob Nut to receive a blue chocobo. Mate a Great female chocobo with a Good male chocobo using a Carob Nut to receive a green chocobo. Make sure the blue and green chocobos are of the opposite sex; if they aren't, restart the game and try again. Release all the parents from the stables. Feed 90 Slykis Greens to both the blue and green chocobos. Race them until they are Class S.
Breeding Black and Gold Chocobos
Mate the Class S blue and green chocobos using a Carob Nut to get a black chocobo. Visit the Icicle Village area and find Wonderful chocobos; they are with two Jumpings. Feed the chocobo Gysahl Greens and defeat the Jumpings individually. Make sure the Wonderful Class chocobo is the opposite sex of your black one. Feed each chocobo 115 Slykis Greens and race these chocobos until they reach Class S. Mate the Wonderful and black chocobos using a Zeio Nut to receive a gold chocobo.