To a medium saucepan, add milk, half and half, pumpkin, pumpkin pie spice, and chocolate.
Heat over medium heat, stirring frequently until chocolate is melted and smooth and mixture just starts to form small bubbles around the edges. Remove from heat and stir in vanilla.
Pour into mugs and garnish with whipped cream and pumpkin pie spice, if desired.
Notes
See my tips and tricks for making this Pumpkin Spice Hot Chocolate above the recipe box.