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Well yeah I agree its an interesting idea. Just like User Profile Field, an adoptable can have its own profile field too.

I can think of some simple way of doing just this bio field, you may alter the database table prefix.owned_adoptables to insert a new column called Bio. Then go to myadopts.php to create a new action called 'bio', copy/paste pretty much everything from the rename action just to change whatever is related to adoptables name into adoptables bio. This should do the trick, although you may want to modify the stats subpage in myadopts.php to incorporate pets bio into the stats.