The Gulf Stream is a warm current that flows in the Atlantic Ocean. It is a powerful, fast-moving current that originates in the Gulf of Mexico, hence the name "Gulf Stream". The current then moves along the East Coast of the United States and continues towards Europe.

Option 1 is incorrect because the Gulf Stream is not a cold current, but rather a warm current. The Gulf Stream brings warm water from the tropics towards the North Atlantic, influencing the climate of the regions it passes through.

Option 2 is also incorrect because the Gulf Stream is not found in the Pacific Ocean. It is specifically located in the Atlantic Ocean.

Option 4 is incorrect because it states that the Gulf Stream is a warm current in the Pacific Ocean, which is not accurate.

Therefore, the correct option is option 3, which accurately describes the Gulf Stream as a warm current in the Atlantic Ocean.