A friend who used to live in North Carolina and studied Entomology (insects) looked at this image and immediately know it was a caterpillar from the Limacodidae family of moths. She told me to Google that name and look at the images, They are really wild looking.

I did not notice it at first and started to lay my arm on the railing for support while taking a photo. I immediately pulled my arm back because those spikes on its back are hard and sting!