An Owl Butterfly (Caligo eurilochus) from Central and South America, taken at the Tropical House, Copenhagen Zoo. From Wiki [link] :
The underwing pattern is highly cryptic. It is conceivable that the eye pattern is a generalized form of mimicry. It is known that many small animals hesitate to go near patterns resembling eyes with a light-colored iris and a large pupil, which matches the appearance of the eyes of many predators that hunt by sight. According to the Batesian mimicry theory the pattern on the wings of Caligo resemble the head of a predator like a lizard or an amphibian. It should deter predators while resting, feeding, mating or emerging from the pupa.
105mm macro lens + 36mm extension tube. Handheld, using a macro twin flash kit. Here's a different crop of the same image:
Also see:
Update: Wow! Just realised that this shot has been awarded a DD today. Thank you so much `Jules1983 for suggesting and ^impressionenmeer for featuring it