Optical beams with an underlying caustic structure are stable under perturbation if the caustics belong to the catastrophe-theory classification; otherwise they are unstable. The original Airy beam in two spatial dimensions, with its curved caustic, is stable in this sense. But the separable Airy-product beam in three-dimensions is unstable: under separability-breaking perturbation, it unfolds into the hyperbolic umbilic diffraction catastrophe, which is stable. By including initial phase factors, a variety of new exact solutions of the paraxial wave equation can be generated, corresponding to Pearcey and higher-catastrophe beams with stable caustics, and with the associated diffraction catastrophes appearing in their canonical forms or as deformations of these.