Stir together 1/4 cup of caramel ice cream topping and 1/2 cup chopped pecans. Pour mixture into the bottom of graham cracker pie crust.
In a large mixing bowl, beat together milk and pudding mixes. Add in pumpkin and cinnamon. Stir until combined.
Gently fold in 1 1/2 cups Cool Whip and spread into the crust covering the caramel and pecan bottom.
Refrigerate for at least 1 hour.
To serve: Top pie with remaining Cool Whip, 2 tablespoons caramel ice cream topping and 2 tablespoons chopped pecans.