Milkweed Tussock Moth Caterpillars
Usually we think of monarch caterpillars as the only caterpillar to munch on milkweed. But the milkweed tussock moth, Euchaetes egle, is an eating competitor. It is native to North America and commonly seen in mid to late summer feeding on dogbane and milkweed.
The insect is potentially destructive. However, some people might argue that they are still a necessary insect in the food chain. Although bats don't care for them because they take in a poison from milkweed that makes them distasteful, not to mention they emit an ultrasonic click that bats recognize as a warning to not eat or be sick.
I wasn't fortunate enough to get a picture of one as a moth, but I found a good photo HERE.
Cool stuff.

