My boys love bugs, especially the oldest one. He found his first caterpillar of the season and I thought...yay, my first macro "bug" shot opportunity. My sisters and neighbors used to find this particular species all the time growing up. This caterpillar is a Malacosoma Americanum also known as an Eastern Tent Caterpillar as I found out on Wikipedia. I really, really love this picture. I think the colors and focus area is just like I wanted it. He was a squirmy little thing so I chalk it all up to pure luck.
The settings were: Shutter speed - 1/250 sec, Aperture - F4.0, ISO 400, WB - manual, Focal length - 60mm, Flash not fired.