The new pet from the Valentine's in-game event is the Lovebird Hatchling. If it looks familiar, that's because it's a smaller version of the Swift Lovebird mount. Not only that, but it uses the same model and skin as the Mulgore Hatchling. Can't say I'm thrilled about the latter, but a new pet is a new pet right?
I was hoping that maybe the Lovebird Hatchling would have a unique idle animation/interaction to set it apart from the Mulgore Hatchling, but I haven't noticed it do anything interesting yet.
Since it's related to the Love is in the Air event, I thought maybe it might interact with another Lovebird Hatchling or even its mount counterpart. Unfortunately, I haven't been able to find someone else on my server with the pet or mount to test this idea out. I also can't seem to talk the OH into grinding Love Tokens to purchase one either lol. :P
I'd be lying if I said I wasn't disappointed that this pet is basically the same as a previously released one. Less sprightly, though, since it doesn't seem to run/walk away randomly like the Mulgore Hatchling. It's kind of a bummer so far. Aside from adding a neat idle animation/interaction, Blizzard could have used a different model, as suggested by Wayne on Twitter.
@perksnpeeves They could have at least made it a pink crane (unused look) and it would have cost them no effort. Sigh— Wayne Woods (@WayneGWoods) February 3, 2015
Sure, if they had used a different model it would no longer match the mount, but as long as it was named differently there wouldn't be any expectations for the two to match. Besides, the Mulgore Hatchling matches the Swift Lovebird mount just fine. :P
Ahh well. I can't complain too much. A new pet from an event is still awesome, and I'm satisfied with the steady release of pet-related content. This is just me nit-picking, don't mind me. Go give your Lovebird Hatchling a hug and a kiss, love is in the air after all! :)