This bug may represent a stage in your own personal growth and development. The butterfly is a symbol of transformation; it represents a level of individual achievement. The caterpillar, on the other hand, may indicate that you are on your way but have not reached your goal. You may be in earlier stages of accomplishing a real-life goal, a relationship goal, or even a spiritual goal. The caterpillar may represent a specific area of your life or may be symbolic of the larger you.