During a recent trip to Prospect Mountain in the foothills of the Adirondacks in New York, my grandchildren found black and white fuzzy caterpillars climbing on the rocks near the top of the mountain. I cautioned them not to touch these hickory tussock moth caterpillars because its hairs can attach to your skin and inject an irritating venom that causes an allergic reaction in some people. This is an adaptation to protect them from predators.
The caterpillar eats the leaves of hickories, maples and oaks and other trees before forming a pupa which overwinters in the leaf litter of the forest floor. This caterpillar through the process of metamorphosis will transform into an adult moth.
The hickory tussock moth caterpillar is not the only venomous larva. Many of the moth species have larvae that contain stinging venomous hairs. These include the saddle-back moth, hag moth caterpillar and others. Just be careful with any hairy caterpillar and you will be fine.
I remember as a kid being warned about fuzzy caterpillars. Love your first shot.