Select the option that is related to the third word in the same way as the second word is related to the first word.

Butterfly  :  Caterpillar  ::  Sheep  :  ?

Lamb

The pattern in the given analogy is that the second word is the juvenile or immature form of the first word.

Butterfly : Caterpillar :: Sheep : Lamb

In this analogy, a caterpillar is the immature form of a butterfly, just as a lamb is the young or immature form of a sheep.