Originally Posted by
Pandastirfry
not at first, orginally it was just luck of the draw if you got one of the colored ones. (you were more likely to get a colored one from a drop, than the purchased, but I still got a red for a purchased egg) Actual attributes to the chocobo didn't come until Breeding and Racing were introduced.
When XI first introduced personal chocobos they didn't have breeding that came in a later patch.
edit: Oh yeah and the actual attributes for you chocobo were affected by how much time you spent(wasted) in actually going and talking to your chocobo while it was still a chick. if you spent no time with it, it was AS fast as a rental, not slower.