The fastest way would be not using any loops, just use pure SQL
insert into table1 (id)
select a.N + b.N * 10 + c.N * 100 + d.N * 1000 + e.N * 10000 + 1 as N
from (select 0 as N union all select 1 union all select 2 union all select 3 union all select 4 union all select 5 union all select 6 union all select 7 union all select 8 union all select 9) a
, (select 0 as N union all select 1 union all select 2 union all select 3 union all select 4 union all select 5 union all select 6 union all select 7 union all select 8 union all select 9) b
, (select 0 as N union all select 1 union all select 2 union all select 3 union all select 4 union all select 5 union all select 6 union all select 7 union all select 8 union all select 9) c
, (select 0 as N union all select 1 union all select 2 union all select 3 union all select 4 union all select 5 union all select 6 union all select 7 union all select 8 union all select 9) d
, (select 0 as N union all select 1 union all select 2 union all select 3 union all select 4 union all select 5 union all select 6 union all select 7 union all select 8 union all select 9) e
order by N
This query inserts 100000 rows
Here is SQLFiddle demo
You can wrap it in a procedure if you want
CREATE PROCEDURE insert_id(IN _maxid INT)
insert into table1(id)
select n
from
(
select a.N + b.N * 10 + c.N * 100 + d.N * 1000 + e.N * 10000 + f.N * 100000 + 1 N
from (select 0 as N union all select 1 union all select 2 union all select 3 union all select 4 union all select 5 union all select 6 union all select 7 union all select 8 union all select 9) a
, (select 0 as N union all select 1 union all select 2 union all select 3 union all select 4 union all select 5 union all select 6 union all select 7 union all select 8 union all select 9) b
, (select 0 as N union all select 1 union all select 2 union all select 3 union all select 4 union all select 5 union all select 6 union all select 7 union all select 8 union all select 9) c
, (select 0 as N union all select 1 union all select 2 union all select 3 union all select 4 union all select 5 union all select 6 union all select 7 union all select 8 union all select 9) d
, (select 0 as N union all select 1 union all select 2 union all select 3 union all select 4 union all select 5 union all select 6 union all select 7 union all select 8 union all select 9) e
, (select 0 as N union all select 1 union all select 2 union all select 3 union all select 4 union all select 5 union all select 6 union all select 7 union all select 8 union all select 9) f
) t
where n <= _maxid;
This procedure can populate up to 1m rows.
Sample usage:
CALL insert_id(5500);
CALL insert_id(100000);
You can also take a look at this post MySQL: Fill a table within a Stored Procedure efficiently