Sheep

Sheep are passive mobs that are useful for wool. They were the first mob added to Minecraft Pocket Edition. Sheeps' wool can be dyed different colors to obtain colored wool.

Shearing
Shears can be used to shave a sheep's wool off, giving the player 1-3 wool. The sheep will then look bare. The wool grows back when the sheep consumes the grass on a Grass Block. You can shear and kill a sheep at the same time as a result, the sheep will drop 4 wool.

Dyeing
Since the 0.6.0 Update, sheep can be dyed by holding and tapping a sheep using a Dye. If sheared or killed after being dyed, they drop the color of wool they are dyed.

Some Sheep will spawn naturally with a dyed color of pink, black, gray, light gray, white or brown.

if you name a sheep jeb_, it will go through the color spectrum.

Breeding
Sheep are attracted towards equipped Wheat and can be bred using it. When bred, a baby sheep of one of the parents' colors will spawn. Although some colors will mix to create a new color. For example, if the player breeds a red sheep and a yellow sheep together, the baby will be an orange sheep, although color mixing does not apply to all sheep pairings.

Trivia
Oveja
 * Version Exclusive: The sheep's facial wool color changes when the sheep is dyed.
 * A 'Shear' button was added in Update 0.9.0.
 * Before this, players would often accidentally punch sheep when shearing them.
 * White is the most common color͵ while darker colors are rarer. Pink sheep are the rarest with a 0.164% chance of naturally spawning.
 * Baby Sheep cannot be sheared.
 * However, they can be dyed.
 * When sheep eat Grass, it will turn into Dirt. This can be very annoying in large herds, since they will actually eat the grass off of large Plains.
 * Baby Sheep can eat wheat, but will not breed unlike adults.
 * Sheep are one of the three mobs in MCPE that can be sheared, the others being the Mooshroom and Snow Golem.
 * Baby sheep have a tendency to eat more grass before adulthood.