Phasmatodea (stick insects) are an order of insects which can be found all over the world in warmer zones.
Their natural camouflage can make them extremely difficult to spot.
This is most likely Parectatosoma hystrix.
Both males and females have sharp red and white spines along their bodies.
Their green eyes are particularly striking.

Andasibe-Mantadia National Park, Madagascar, 15 January 2014