ljubimac

1. pet
   Imate li kućnog ljubimca? — Do you have a pet?
   Naš ljubimac je mačak Mića. — Our pet is a tomcat called Mića.
2. (of a person) favourite
   Mlađi sin je oduvek bio mamin ljubimac. — The younger son has always been mum's favourite.
   Taj glumac je ljubimac publike. — That actor is a crowd favourite.

For an animal, the usual phrase is kućni ljubimac.