There are two different anticipation guides included for The Very Hungry Caterpillar. These guides allow students to make predictions about the events that will take place in the book by looking at he book before reading it.
One guide included is for a whole group (or partner work, etc.) before reading the book. The other was designated for literacy center use by students who ahve already used the guides.
I would recommend introducing the anticipation guide to students that haven't used used one before and to work with them in a small or whole group setting. However, students comprehend the guide quickly and it is very easy to them to understand its use. Younger students will still need assitance with reading.
If you have used anticipation guides with your students, then you may want to allow individual, small group, or partner practice. There is a coloring sheet for your students included for just for fun; a nice item for early finishers. Enjoy!