Just came back from Salvador in Brazil, where I came across this caterpillar (along with about 30 of its friends) on one of the plants. Someone told me there it was known popularly as largata de fogo, but no-one could tell me if it turned into a butterfly or a moth. It was about 5″ long and if you happen to brush against one of its spiny hairs, you really know about it! Have you come across this one before?
We don’t recognize your beautiful stinging Caterpillar. We will post it and perhaps someone will identify it.
Update: August 5, 2012
While trying to clean up some old unidentified postings, we found this image which we believe is one of the stinging caterpillars in the genus Automeris. We will continue to research this.