Whats happening:
My ferret is just a baby, and about 6 days ago he started sneezing and crackling/wheezing cough. I googled it and found that it could be just a cold. After fours day the symptoms didnt go away, nor get worse. He is eating fine, and drinks ALOT of what, he will sit at his bottle for 5+ mins drinking. Usually when he drinks is when you can really hear him get the sneezing fits and coughing. While he does do it while walking around, that is when he does it the most. My Nibs is very unclean for a ferret. His potty is right beneath his food, while Ive tried stopping this, he persists. Also earlier today in his poop there was a large black piece, fearing internal bleeding i put gloves on picked it up, just to find out it was black foam to headphones he ate 3 weeks ago. Im not sure if hes posioned or what not. The vet said give it a couple weeks that its just a cold but he could be dead by then. 

PLEASE HELP

sneezing and coughing could be a sign of dusty litter, dusty house, or fabric detergent/softener used.  Since you say he coughs when drinking, he could be inhaling his water/food as well.

If he ate a foam headphone covering, he could have ingested something else as well.  Poisoning probably won't happen because of it, but it could cause a blockage.  Be sure to keep ingestible items out of reach of your little guy.  Sounds like he is pooping and acting OK based on your description, but you may want to add a little lax to his diet for a while and keep an eye on things.

Ferrets do not get colds.  Colds are due to rhinoviruses, which are species specific virus. Ferrets may get influenza, but not colds.

Perhaps an upper respiratory issue? 

Only a ferret knowlegable vet can tell you for sure.

Ferrets: Wesley, Percy, Owen    -rip Bandit-
Bettas- Kitty, Pip, and Logan
Sun Conure- Kita
Gerbils- Piper and Tailer