Chocobo Forest of Fun - FF8 Guide
This Chocobo Forest is found on the western portion of the southern most landmass in the world. There are a few different spots in this forest that you will have to use the ChocoZiner, the first of which is on the right side of the screen which will bring down 3 Chicobos (picture below on the left).
The next location is between ChocoBoy and the Chicobos in the area (pictured below on the right).
As for the final location, it's found on the elevated piece of land right in front of the ChocoBoy, shown in my screenshot above. You'll have to use the ChocoZiner twice at this location. First to summon the Chicobo then to get the Chicobo to run through the other three Chicobos like a bowling ball.
Once you watch that scene talk to the Chicobo to summon the mother. Now, as for the loot in this area you can find it in the back right (shown in my screenshot below). You'll receive a Meteor Stone, Flare Stone and an Ultima Stone.