Could you possibly provide a photo? Knowing what species caterpillar you have is the first step in knowing what to do.

For example, I had these little furry ones eating up my butterfly weed last Spring.

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It is a Milkweed Tussock Moth larvae. These only eat milkweed or other asclepias. (Butterfly weed.) And the plants recovered and bloomed even with last year's drought. The Milkweed Tussock Moth, it turns out is a pollenator for lots of other plants, including the asclepias. So destroying them out of hand wouldn't have been a good thing.

Also, I found these last year. Again, eating the butterfly weed and milkweed. This is a monarch butterfly caterpiller. Beautiful at both stages in my mind.

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And finally, this guy. Munching hard on the Japanese Honeysuckle. But later on he becomes a Snowberry Clearwing Moth or Bumblebee Moth and pollentates all sorts of stuff!

The Eastern Tent Caterpillar (Malacosoma americanum) is the only one I run into around here that I would call a pest. These voracious critters can completely strip a tree of its leaves.

Here is a link that might be useful: Eastern Tent Caterpillar

Absolutely! Time to pull out the flame thrower for those little beasties.

The little inch worms are what is on our cherry trees and they will strip the thing bare. I just spray with Malathion.