Here's another update from Facebook
Turn Facebook Chat off has had the enhancement now. This feature will really be helpful for those who don't want to be available on Facebook for all the friends.
Yes, you can turn the Facebook Chat ON or OFF for just some of your Facebook friends and Friends list.
While turning off facebook chat, there will be options to select whom you want to 'Turn the chat off'
To turn chat on for just a few friends:
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Click in the chat sidebar -
Select Advanced Settings -
Click Turn on chat for only some friends -
List the friends you want to turn on chat for
To turn on chat for all your friends except a few:
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Select Turn on chat for all your friends except in your Advanced Settings -
List the friends you want to turn chat off for
You can quickly turn off chat for an individual friend by clicking at the top of your chat window with that friend. From there, click Turn off chat to...
To turn chat on or off for a friend list
Click the icon in the chat sidebar and select Advanced Settings. Enter the lists you want to turn chat on or off for in the correct header:
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Turn on chat for only some friends: Enter the lists you want to be on chat for
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Turn on chat for all friends except: Enter the lists you want to turn chat off for
If you want to chat with someone who is on a friend list you've turned chat off for, enter that person's name into the search bar at the bottom of the sidebar. The name will appear grayed out, but you can click on it to open a chat with that person. Chat will remain off to the rest of that list.
The above steps are sourced from Facebook Help Center:
Can I turn chat on for just a few friends?
Can I turn chat on or off for friend lists?
Let us know your experience and queries!