Instagram said it was going to deliver ads to your Feed, and then it said it again.
And now, here they are.
Designer Michael Kors started running this ad this morning. This is a version that ran in a brand's own Feed, but people who aren't following the company may see the same image anyway, with a "sponsored" tag where the timeline is in this image:
So there you go. An ad on Instagram looks exactly the way Instagram said it would look.
Bigger picture: An ad on Instagram is one of the reasons Facebook said it isn't going to jam up its own Feed with more ads - because it doesn't have to in order to make more money. Another way it can do that will be video ads, but we're not going to see those until next year.
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