The life cycle of a butterfly consists of four distinct stages: egg, larva (caterpillar), pupa (chrysalis), and adult butterfly. The cycle begins when the female lays eggs on a host plant. The egg hatches into a larva, which feeds voraciously and grows. After sufficient growth, the caterpillar forms a protective chrysalis, where it undergoes metamorphosis. Finally, the adult butterfly emerges, ready to reproduce and continue the cycle.