This research proposes the development of a five-nozzle extrusion system for Fused Filament Fabrication (FFF) or Fused Deposition Modeling (FDM) -type 3D printers. It addresses multi-color, multi- material and operating time limitations of single-nozzle extruders, and current issues of state-of-the-art multi-nozzle extruders, namely, efficiency in terms proper material selection, multi-extruder system development, shape optimization and lower production costs. The proposed model gives solutions to the abovementioned challenges by the use of optimized materials and production methods, isolation of cold-end to reduce the weight applied to rails by having only lightweight hot-end which is mounted on it, and use of only two motors for the extrusion system. Five-nozzle extrusion system with multi-material selection would enable printing up to five different colors and composite materials simultaneously without the requirement of filament change process. Currently, in the market, there is not a wide range of multi-material based multi-nozzle printers. Successful development, as well as material and shape optimization of this system, will help to produce competitive 3D printer of high performance in near future.