Nyx

Dragons are guardians of various aspects. Their youngest can also be pets. This guide covers pets that are farmable. Each one has a 1in 1,000 chance dropping.

Tiny Crimson Whelpling
Aspect of Life (Appropriate for healers)
Where: Wetlands
What to kill: Crimson, Red, and Flamesnorting Whelps

Tiny Emerald Whelpling
Aspect of Nature (Appropriate for druids and shamans)
Where: Swamp of Sorrows
What to kill: Dreaming Whelps

Black Whelpling
Aspect of Earth (Appropriate for physical classes)
What and where: Scalding Whelps in the Badlands and Searing Whelps in Dustwallor Marsh

Azure Whelpling
Aspect of Magic (Appropriate for casters)
Any of the dragonkin in Azshara

Happy hunting!

(Thanks for the correction, Revah!)

Red Whelpling = Tiny Crimson Whelpling

Oh are these bind on pickup? I'd say its easier for me to farm it with my pally if it isn't.

They are all bind on use. You can farm one for yourself and another for profit. If you are a skinner, that means even more profit.