There are three dragons who only appear at certain times of day and figuring out

their drops is a little tricky.

Dragon Location
Farosh the Yellow Dragon Bridge of Hylia - north and slightly east of Lake
Tower in the Lake Hylia Region at 12:00 am

Floria Bridge northeast of Lakeside Stable in the Faron region

Naydra the Blue Dragon Mount Lanayru northwest of Hateno Ancient Tech Lab in the
Hateno Region

Lanayru Bay
Dinraal the Red Dragon Eldin Great Skeleton in the Eldin Region. Dinraal spawns
9:00 AM, 1:00 PM, or 11:00 PM from the Eastern sky and is best attacked from the
southern cliffs above the skeleton.

FARMING FOR DRAGON HORNS

When a dragon appears, the music will change and you will notice an updraft. Press
X to jump and X again to open your paraglider. Fly towards the dragon and press Y
to activate your bow and arrow then aim at the part that you want. You'll see a
flash of light and hear a distinct sound that indicates your arrow has met its
target. The item will drops to the ground below and will glow making it easy to
find.

Unfortunately, once you hit a dragon they will immediately fly away. This leaves
you with waiting for the next and cycle to hit them again for the valuable. Simply
make a fire and wait until the next morning (specifically for Farosh and Dinraal)
form them to appear.

There is a faster way to farm dragon horns though! Farosh (the green dragon) is an
easy target for this and you can have plenty of dragon horns for your recipes.

Head to the southern end of the Bridge of Hylia and climb the left-hand tower. At
the top, make a fire and wait until morning. Not long after waiting, you should
hear the music change, which signifies that Farosh is approaching. Across the lake
you can spot Farosh emerging out of the water.

Equip a bow and whatever arrow you have the most of. If you have a bow that shoots
two or three arrows at once (for the price of one), use that bow.

When Farosh gets close to your tower, she should be just below you. Paraglide out
about her parallel to the bridge being careful avoid the electric orbs! When close
enough, press Y to activee your bow, take aim at the horn and fire! If you hit it,
there will be a sound and glow to confirm it. Watch where the glowing piece falls
and go after it. Pick it up, head back to your fire and repeat!

If it is raining, you can make a fire beneath the arch created by the towers. You
will have plenty of time to climb the tower before Farosh gets near. Do this as
many times as you want to collect dragon horns.

You can do this with the other dragons, but farming Farosh is the easiest, fastest,
and most consistent method.

Dinraal

I have not seen this method of farming Dinraal, so I thought I would share.
I was on my way to the eighth heroine and came across Dinraal flying down the
canyon and realized this might be a better location to farm him than at the
skeleton.

Here is the method to farm:

Warp to the Kah Okeo shrine which is right by the canyon he comes down.

Set-up a fire and choose night. He will come down the canyon about 1030, so you
will have enough time to get from the shrine to the canyon since night takes you to
9PM.

Climb out of the hole the shrine is in and make your way over to the canyon which
is to the south and slightly east of the shrine.

Climb up a little bit to a rock that overlooks the canyon, you don't have to climb
far since he comes right down the canyon as you will see.

Wait until about 1030 where you will see his head from around the corner and he
will make his way toward you.

As he gets close, take off from the rock and fly toward him. His head will
literally come right by you making for a perfect target for either a horn shard or
a scale.
Typically, when I shoot a horn shard, it flies right below me on a rock outcropping
close to where I wait for him. After, I can easily climb back to the rock and start
a new fire and go again.

I don't have it set-up where I can take pics or record me doing it, but give it a
try and let me know if it works as well for you!

Naydra

Go to Lanayru Promenade (the T shaped lake east of Lake Hylia). On the far east
side and just a hair south is a small hill that looks like a small round
outcropping on the map (there is a Lynel just a small walk ENE) Start a fire and
wait by it "Until Morning". Once you wake up at 5am look directly up to the summit
of Mount Lanayru and you will see her circling and then she will descend straight
to you and fly along the Promenade, perfect range for a good shot anywhere.

Rinse repeat.