Lacewings are pale green insects about one inch long and have shiny golden eyes. Their wings have many veins, which gives them the netlike or “lace” appearance. When in flight they may resemble delicate moths. Lacewings lay their pale green eggs on the tips of threadlike stalks on the underside of leaves. The immature lacewings hatch within a few days. lacewing larvae are reddish cream in color and are tapered in shape like tiny 1/8 inch alligators. When the larvae mature they form a yellow silken cocoon in which to pupate.
In the larval stage lacewings are ferocious feeders, and consume large numbers of aphids and other insect pests, for example moth eggs.
Source: Maricopa County Cooperative Extension Home Horticulture