Puss Caterpillar (Larva), Southern Flannel Moth (Adult), Megalopyge opercularis (J. E. Smith 1797) (Insecta: Lepidoptera: Zygaenoidea: Megalopygidae)

Featured Creatures collection was founded in1996, a cooperative venture of the University of Florida's Entomology and Nematology Department and the Florida Department of Agriculture and Consumer Services' Division of Plant Industry.  It provides in-depth profiles of insects, nematodes, arachnids and other organisms. 

Hungry caterpillars can cause a lot of damage to your precious plants. Your best defense is to scout your landscape on a regular basis. Look over your plants carefully a couple of times a week. If you see chewing damage, try to find the critter responsible. It's probably a caterpillar. Source: Gardening in a Minute, Caterpillars on Ornamentals

Caterpillars are the larval stage of insects in the order Lepidoptera, which includes butterflies and moths.