First instar Hercules moth (Coscinocera hercules Misc.) caterpillar.
The tiny caterpillars on my tree were very photogenic.
Buck reared the small caterpillar and from its discovery on 6 October 2012 to the emergence from the cocoon on 6 November 2012 of a small moth, this is the result.
Note that the cocoon is formed by the caterpillar chewing small bits of the host plant and somehow joining them together.
This moth is in the family Nolidae; subfamily Sarrothripinae. The entire subfamily was formerly in the family Noctuidae.
In Ian common's book on the Australian moths he noted that the pupae of this species produce an audible sound by rubbing the projections of the abdomen against the sides of their parchment-like cocoons.