Cup Moth

The Limacodidae are often called slug moths because their caterpillars bear a distinct resemblance to slugs. They are also called cup moths because of the shape of their cocoons. The larvae are often liberally covered in protective stinging hairs, and are mostly tropical, but occur worldwide, with about 1000 described species and probably many more as yet undescribed species.
The Limacodidae are small, hairy moths, with reduced or absent mouthparts and fringed wings. They often perch with their abdomens sticking out at 90° from their thoraces and wings.