I saw this thing attached to my kids backyard playset last week and thought it was a dead caterpillar and almost removed it. I am glad I didn't, the next day I saw it had bent its body a different direction. I have not seen this before, I always pictured a whole cocoon, not part of the caterpillar hanging and the other part developing in the open. Anyway, here are some pictures, and I can post more as it develops. View attachment 106917 View attachment 106918 View attachment 106919 View attachment 106920 Form doing a google search this might be a Gulf Fritillary, but maybe someone else knows for sure?