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This mob drops the mount  Reins of the Thundering Ruby Cloud Serpent.

This mob is immune to being attacked until someone has collected 10  Skyshards, created a  Sky Crystal with them, and used it on Alani. Skyshards have a small chance to drop from any mob in Vale of Eternal Blossoms or to be contained in the daily quest reward:  Treasures of the Vale. Using the Crystal tags the mob for you and takes it to 20% HP making looting your new mount easy.

In order to use your new mount you must be Exalted with Order of the Cloud Serpent, Revered with the Golden Lotus, and Exalted with the The August Celestials.

The reputation requirements will be removed in a future patch. (Source)