Say you have decided that you do not like the style of wolf that everyone is running with and want your own wolf that is different then everyone else you run into or you just want something different. Usually, unless you take that high level one that everyone has, you are going to have to make 5 levels with that new pet before it becomes raid viable.
Here is a quick and easy way to level the pet and make some gold to boot.
1) Go to Storm Peaks area of Dun Niffelem, you know the area where the Sons of Hodir are.
2) Circle the area killing the packs of mammoths and whatever worms get in your way.
3) Usually about an hour later, two if you are taking your time or are not totally uber geared and you will have a level 80 pet.
Not convinced that is a good area to do this yet? Read on for more reasons why this is the best area I have found.
The beauty of this way is that the packs of mammoths spawn fast, the worms spawn fast, and usually anyone that is "farming" in that area are more concerned with the elemental that drop the fire.
I am all about maximizing effectiveness with time. This is all about that, I never just do one thing when you can be doing two or three things all at once without any added effort.
If you are a skinner then this is extra great for you. You will get a whole mess of leather. If you are have herbalism then this IS also good as lichbloom and icethorn grow back quickly there and if you are a miner then you have the occasional saronite node pop up as well.
Even without those extras you will end up with about 120 chunk of mammoth and 80 worm meat, not to mention lots and lots of chilled meat and we all know there is always a use for that. You will also get yourself your fair share of greens for disenchanting purposes, should you be an enchanter or have an enchanter alt or fiend (everyone has or knows someone).
Added bonus: You can make mega mammoth meals from the chunk of mammoth if you want, it is good hunter food, basically what a fish feast would give you or you could sell it.
Added bonus: You are so very close to where you can sell the junk which over the course of running this will net you 80 gold from junk alone.
In the end you can expect to make at least 300 gold from selling the meats you collect and another 150 gold from the disenchanted greens, even more if you get lucky and get some great cosmic essences. In a perfect world you could get 20 of them in one run and on some servers they can go for 30 gold each, so that would be a quick and easy 600 gold.
Add to that the leather, herbs or ore you collected, if you had those abilities and you could easily end up with up to 1000 gold, lots of great hunter food and a brand new level 80 pet all in usually less then 2 hours time.
Not all that bad when all we where talking about was leveling a pet. ;)
Last tip: Just make sure your bags are about as empty as you can make them before you head there.