Credits to @FuzzfingerGaming for their original video.

By doing this immediately after getting the Highwind, it is possible to get a Gold Chocobo without using the Chocobo Racing at all, allowing you to get Knights of the Round before even tackling the Huge Materia sidequest.

How this is done:

1) Get 70-80 Krakka Greens, 1 Saraha Nut, 2 Carob Nuts, and 1 Zeio Nut. 2) Capture a Wonderful Chocobo from Icicle Inn area (this only has Jumpings) and a Great Chocobo from Mideel (this only has Spirals). 3) Go inside the farm, and then go back to the world map. Get close to the farm, save, then quit game completely then reopen, then immediately run into the farm. 4) Move Great Chocobo first (should be female), then move Wonderful Chocobo (should be male). Repeat step 3 5) Feed 1 Krakka to Wonderful, mate by choosing female first then male. Choose a Carob Nut and should get blue female. Fight exactly 6 battles, repeat step 3. 6) Feed Great 50 Krakka Greens. Mate female first then male, select Carob, should get green male. Fight exactly 8 battles, repeat step 3. 7) Feed 5 Krakka to Blue, then select blue first, then green, then use Saraha Nut. Should get Black female. Fight exactly 3 fights, repeat step 3. 8) Feed 6 Krakka to black chocobo, then mate black with wonderful with Zeio, should end with Gold Female.

An amazing exploit that I wish I knew many years ago, so many thanks to FuzzfingerGaming for finding this!! The things the community finds on these games.