Found in florida. Had allergic reaction after touching it.
Your caterpillar is that of the white flannel moth. Caterpillar has stinging spines contain irritating toxins released upon contact. The toxins cause a mild to severe burning sensation, rash or welts. So, it should not be handled. Sorry you learned the hard way.
The larvae feed on a variety of plants including black locust, hackberry and redbud. Is that a locust tree it is on?
The moth is pure white with a fuzzy head area. The males have orangish antenna.
This insect is found in the eastern and southern areas of North America. It has several generations per year.