What you see isn't always what you get

I found this caterpillar on an orange tree in my front yard. I've been watering the citrus, trying to help the trees weather this drought we've been having and I noticed something moving on a branch. It was a caterpillar, but with some funky coloring on it. That's when I realized it was masquerading as bird poop. I ran inside to get my camera, and miracle of miracles, managed to get a focused shot using the macro setting. He's really amazing, in a blecchy sort of way.

It got me to thinking, is he very tasty and that's why he's disguised this way? Or is he yucky tasting and this is how he advertises the fact?