Where did the caterpillar go?

It seems to have disappeared, but it hasn't. It has turned into a butterfly! From the time a caterpillar first hatches, it eats so fast that its skin can't keep up. It sheds its skin several times as it grows bigger and bigger. Eventually it forms a shell around itself called a chrysalis. Nothing seems to happen for a long time. But then one day the chrysalis splits open, and a beautiful butterfly emerges. What a magical metamorphosis!