The Laugher
Host Plants: The leaves of beeches, oaks, birches, maples, elms, and other broadleaf trees (beech and oak most commonly); the caterpillars (which last from June – October) rest in a silken nest that they create between two or more leaves. They feed on the older, hardened leaves that are usually too tough for other caterpillar species to consume. There is typically only one generation of the caterpillars per year in the north (two at most), and two or more generations in the southern U.S.
Additional Information and Photos (including the moth stage): The Laugher (BugGuide.net)