It seems to fit this description. It could have been blown off a nearby Eucalyptus Brittle Gum, or is maybe looking to pupate. I almost trod on it in bare feet, and glad I didn't!
I don't know if the hairs on the caterpillar are bad, but the ones on the cocoons sure are! They're like metal splinters but worse; they stick in you like velcro, and they snap off when you try to remove them so are stuck in your flesh and takes weeks to work out.