Owing to recent improvements in pancreatic imaging, an increasing number of cystic lesions have been identified in asymptomatic as well as in patients presenting with jaundice, pancreatitis, or abdominal pain. In spite of many diagnostic modalities, pseudocysts of pancreas still create confusions with pancreatic cystic neoplasms. Here we report a 38 year old lady who presented with abdominal lump and jaundice following an episode of pain abdomen suggesting acute pancreatitis. She was fully investigated and managed for pseudocyst of pancreas. The diagnosis of mucinous cystic neoplasm was evident only after the biopsy from the wall of the cyst.