Cadbury has given the bunny extra curves and make-up for its Still Got It campaign, which will see her adorning press and outdoor advertising. She was last on TV screens in 2001 - and Cadbury refused to say whether she would return to TV this year.
A packaging redesign rolling out in March aims to make Caramel appear more upmarket to consumers. It retains its yellow and purple colour scheme but is bolder and brighter and features flowing lines that Cadbury claimed more effectively communicated the softness of the caramel.
"We are excited to be supporting the redesign of Cadbury Dairy Milk Caramel by introducing an updated, modern and sophisticated look for the Caramel bunny," said Kate Harding, trade communications manager at Cadbury.
"The new look is predicted to enlist new fans while appealing to those who fell in love with her originally."
Cadbury CEO Todd Stitzer denied the nostalgic use of the Caramel rabbit was flying in the face of more innovative, forward-looking marketing strategies.
"We have looked to the past, but with future trends in mind," Stitzer said. "It brings the rabbit back in a creative way. Besides, when people are challenged economically, they reach for something familiar and comforting."
Food and drink companies should not be condemned for using nostalgia in their marketing, agreed Adrian Goldthorpe, European head of consumer strategy and innovation at brand analyst FutureBrand.
"Cadbury Caramel is a perfect example of a brand reconnecting with its DNA. The rabbit is a perfect encapsulation of smooth, creamy, sensual caramel that entices us all; male and female," he said.
"The campaign serves to act as a springboard for the future by reminding us what it was we loved about Cadbury Caramel. It may be nostalgic, but above all else it's communicating the right idea."