Young Lobo is a Companion pet, offering no buff or function for players, other than following the player around once summoned.
Binds when used.
Bond with this pet and learn how to summon it.
Once learned, it will read: Summons a Young Lobo.
How to Get Edit
Young Lobo drops off wolf mobs in the world. All world drop pets have a chance to drop off mobs of the same creature type, and the chance of a pet dropping is increased by the amount of times that mob has been killed. But there is no guarantee that farming mobs will drop a pet.
Since Young Lobo is not bound on pick up, it may also be available at the Auction House.