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Butterfly Palm is another name for the Golden Cane Palm (Dypsis lutescens), native to Madagascar and commonly grown as a house plant or garden plant in warmer climates. Dypsis is a member of the Areca Subfamily (Arecoideae) of the Palm Family (Arecaceae).
Give this plant sun or bright indirect light. Water regularly, fertilize occasionally, and maintain good drainage. Even still, dry indoor air and just the passing of time will give you browned leaves eventually. Groom off any dead foliage and try to maintian some humidity around the plant. If possible, 'summer' it outdoors in mild weather. Time outside can be a wonderful tonic for many house plants.