In a small bowl, beat whipping cream until it begins to thicken. Add confectioners' sugar and 1/2 teaspoon vanilla; beat until stiff peaks form.
In a large saucepan over medium heat, whisk cocoa and half-and-half cream until smooth. Heat until bubbles form around sides of pan. Whisk in coffee, caramel syrup and remaining vanilla. Top servings with whipped cream; drizzle with butterscotch topping.
To prepare in a slow cooker: Prepare whipped cream as directed. Whisk together cocoa, half-and-half, coffee, caramel syrup and remaining vanilla in a 3-qt. slow cooker. Cook, covered, 2-3 hours or until heated through. Serve as directed.