The Fantasy Frog was created so that people could have the looks of the Cornuta, but get the feeding response of a Cranwelli making them a more desirable frog to the general population of keepers. Cornuta are notorius for being picky eaters, so this combination takes care of that. Cornuta only come in once a year in the spring so that is when the frogs are bred to produce the captive bred Cornuta that usually make it to the market right after the imports show up. This is why it is harder to find captive bred Cornuta throughout the year and also why they are more expensive. F2 Cornuta have not been produced, therefore breeders wait for importation every year in order to produce F1 offspring.
Freshly imported Cornuta are easier to breed in comparison to producing Fantasy Frogs naturally, but both are bred using hormones most of the time. There is a possibility that Fantasy frogs can be produced without hormones, but obviously using them makes it much easier. Fantasy frogs have been produced using either set of parents, however it is easier to get a group of male Cornuta to exhibit breeding behavior than it is for females so it is usually done with male Cornuta and female Cranwelli.