  Using the Infrared Array Camera and the Multiband Imaging Photometer aboard
the {\it Spitzer Space Telescope}, we have obtained images of the Lupus 3
star-forming cloud at 3.6, 4.5, 5.8, 8.0, and 24 \micron. We present photometry
in these bands for the 41 previously known members that are within our images.
In addition, we have identified 19 possible new members of the cloud based on
red 3.6-8.0 \micron colors that are indicative of circumstellar disks. We have
performed optical spectroscopy on 6 of these candidates, all of which are
confirmed as young low-mass members of Lupus 3. The spectral types of these new
members range from M4.75 to M8, corresponding to masses of 0.2-0.03 $M_\odot$
for ages of $\sim1$ Myr according to theoretical evolutionary models. We also
present optical spectroscopy of a candidate disk-bearing object in the vicinity
of the Lupus 1 cloud, 2M 1541-3345, which Jayawardhana & Ivanov recently
classified as a young brown dwarf ($M\sim0.03$ $M_\odot$) with a spectral type
of M8. In contrast to their results, we measure an earlier spectral type of
M5.75$\pm$0.25 for this object, indicating that it is probably a low-mass star
($M\sim0.1$ $M_\odot$). In fact, according to its gravity-sensitive absorption
lines and its luminosity, 2M 1541-3345 is older than members of the Lupus
clouds ($\tau\sim1$ Myr) and instead is probably a more evolved
pre-main-sequence star that is not directly related to the current generation
of star formation in Lupus.
