The Zebra Danio is an excellent fish for a community tank, and tossing a decent sized school will add some life to your aquarium.
The male Zebra's tend to have smaller yellow lines between the blue, while the females have a silvery background. Females also tend to be a bit more "plump".
Danios are relatively easy to breed. In fact, you really don't need to do anything except keep them in a school. Actually, a good number of plants, and a slightly warmer temperature might help the process along. The fry will grow quickly, reaching maturity in seven or eight months.
Zebrafish (as they are also called) are inexpensive and very easy to maintain. They're also availible in albino (golden), veiled, and longfin varieties.