This is for the ppl farming this, or any other rare pet, to put up on auction house. Mind you, sell, not keep.

Farming a pet that sells for 100-200 g makes me jump to the conclusion that you want money. So be it. Here is my take:

Drop chance on pet: .1%
Average gold made from these mobs: 1 silver / mob
Average gray drops: sell for 2-5 s / stack, one drops every 5 whelps.
Average green drops: I got 6 greens / 655 whelps
Average blue drops: got 0 blue / 655 whelps

Money I made while grinding this, for 655 kills: 10g.
IF i chose to sell the whelp: 110 g
Time this took me: 9 hours

Primals, for example, are farmed in outland. They go, on my realm, for 30-40 g. So 4 primals for 100g.

Drop chance on life motes, for example: i got 62/100 mobs.
62 motes -> 6 primals
6 primals -> 140 g or so.
Time this took me: 1 hour.
Mind you, I didnt count the silver drops, which is average of 2.4 silver / mob, neither the greens or plant parts or grays or goodies for AH. So counting these, around 200g / hour
In 9 hours, that's 1800 gold roughly.

If you want gold, go farm something else, and leave the mobs for people who want the pet. Thank you.