Question
I have a cocoon built on two of the fronds.  I is made of the palm frond and angular in shape. Do  you have any idea if it is good or bad bug?

Answer
Hi Ardie, its either a moth or butterfly, in either event it isn't harmful to the palm, and its just mother natures way of providing a host for the cocoon to develop into the adult. The damage done by the catepilla is long gone, so let it be and see what comes out:)