I found this song on youtube and then created different colored butterfly di-cuts to use on our magnet board. The song is really simple to learn, and you can create a variety of different colors to use in the song by attaching a self-sticking magnet strip to the back of paper di-cuts.
We have also been doing this fingerplay:
There was a little caterpillar crawling all about.
He worked and he worked and worked all day without a single doubt.
(Index finger wiggling)
Wrapping himself in a snug cocoon.
Waiting and waiting, will it be soon?
(Cover index finger with other hand.)
Look, he’s coming out, my oh my!
For now he’s become a beautiful butterfly.
(Cross thumbs and let fingers be fingers be butterfly wings.)