http://www.snopes.com/horrors/insects/tussock.asp
Claim: Black and white caterpillars are venomous.
TRUE
Example: [Collected via e-mail, August 2011]
Little white and black caterpillars all over are POISONOUS. they are
apparently new to the area..... doctors say there has been numerous
kids having reactions to them. the rash spreads fast. the caterpillars
have long white hairs that embed in skin and send poison through out
the body. DO NOT TOUCH and DO NOT LET YOUR KIDS TOUCH!!! they look
cute and fuzzy and THEY ARE NOT! Please repost to everyone you know
with little kids!!
(more on web site)
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