Megalopygidae is the technical name of a group of insect species known generally as crinkled flannel moths. The larvae are called Puss Caterpillars, and with their long hairs, resemble cotton balls. They have venomous spines that can cause a painful sting and inflammation lasting for several days. In some cases, the sting may cause headache, nausea, and shock-like symptoms.
This is not an insect. This is Rip Taylor’s wig.