This is one of a number of creatures that have large false eyes to frighten predators. Probably the best known UK example is the Peacock butterfly (see http://365project.org/fishers/365/2019-08-27 ).
I think this caterpillar is that of the Elephant Hawk-moth (Deilephila elpenor). If anyone can confirm or correct this identification, I would be pleased to hear from you.
Thank you all for your comments and favs, they are very much appreciated!
I'm still trying to confirm if this is the caterpillar of the Elephant Hawk-moth (Deilephila elpenor).
Ian
Ian
Ian