To ensure success, you need to have the proper Materia equipped: Final Attack linked with Revive, Mime, HP Plus, MP Plus, and at least one member should have W-Summon, Phoenix, Quadra Magic, Master Summon, Counter Attack, and Bahamut ZERO.
Before the battle begins, make sure that two of your party members are dead (trust me on this one). If you do not do this, Ruby will eliminate them using Whirlsand. Make sure the one you keep alive has the Phoenix Summon equipped. Then, when Ruby sticks his fingers into the ground, summon Phoenix and, immediately after, cast Haste and Shield.
Summon Bahamut ZERO with W-Summon and Quadra Magic right for Ruby's body (not his tentacles), which will summon Bahamut eight times. After that, cast Mime and repeat the process. Remember to restore HP and MP when necessary. Work fast because Ruby will pull his tentacles out of the ground and begin using Whirlsand.
One last hint: do NOT use Knights of the Round! If you do, Ruby will counter by using Ultima and wipe out your entire party.
Once you defeat Ruby (which could take MANY times), you will obtain the Desert Rose, which can be exchanged for a Gold Chocobo at Kalm.
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