Combine the gelatin and hot water inside of a cup and set aside to dissolve for a few minutes or as instructed on the package.
Heat a pot over medium heat and immediately add in the heavy cream, milk, sugar, pumpkin puree, cinnamon and pumpkin spice. Whisk the ingredients until combined.
Bring everything to a boil and immediately turn off the stove.
Add in the activated gelatin and stir to combine.
Allow the mixture to cool completely before transferring to ramekins, glasses or silicone muffin molds.
Spray the ramekins, glasses or silicone molds with non stick cooking spray or coat with butter. Skip this step if you don’t plan to un-mold the panna cotta.
Pour the completely cooled panna cotta mixture into your mold of choice and cool in the refrigerator for 4 hours or over night.
Top with homemade caramel sauce before serving.