What happens next?

How to care for a caterpillar
Choose the right time of year.
The best time to go caterpillar hunting is during the spring and summer, as this is when the majority of moths and butterflies will lay their eggs. However, some species-such as the woolly bear caterpillar-emerge in autumn.
Winter is the only time of year when caterpillars cannot be found. In the wild, caterpillar typically have a 2% survival rate, which means that for every 100 eggs a female butterfly or moth lays, only two will survive to maturity.