How cute would a Very Hungry Caterpillar 1st birthday party be? I love the story and illustrations by Eric Carle. I would really enjoy planning this kind of party for a little one :)

I love these DYI invitations from Pottery Barn. Here are the instructions.

For food a buffet with all of the food from the story book would be perfect...
lollipops, pie, chocolate cake, sausage, cheese, pickles, fruit, ...

I love this caterpillar paper lantern. Follow these easy steps from Pottery Barn to make one yourself.

These cute caterpillars I found on On to Baby would be easy to make from egg cartons.