The Limacodidae or Euclidae are a family of moths in the superfamily Zygaenoidea or the Cossoidea; the placement is in dispute. They are often called slug moths because their caterpillars bear a distinct resemblance to slugs. They are also called cup moths because of the shape of their cocoons.
The larvae are often liberally covered in protective stinging hairs, and are mostly tropical, but occur worldwide, with about 1000 described species and probably many more as yet undescribed species. source