What's That Bug? does not endorse extermination

i have just found this beautifaul creature ,and have no idea what it is-butterfly or moth?
please can you help me to identify this creature? we are living in the south of israel. i have also found millions of hairy ginger little caterpillars in big webs like spider webs-know what they are? thanks
a.beeri (israel)

Hi A,
Your moth is a Great Peacock Moth, Saturnia pyri. Coincidentally, we just posted a photo of a caterpillar from this species photographed in France. Adults do not feed, the caterpillars eat leaves from a variety of shrubs and trees, and the species ranges throughout most of the warmer areas of Europe, the Mediterranean, and into the Middle East.

What's That Bug? does not endorse extermination

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