Pour your cream soda into a small saucepan, then sprinkle both packets of the unflavored gelatin evenly over the top. Swirl the gelatin around so that it gets absorbed by the cream soda. Let it sit for 5 minutes to allow the gelatin to bloom.
Set out your plastic shot glasses onto a small rimmed tray (this makes it easy to transport your filled shot glasses to the refrigerator). Set aside.
Once your gelatin has bloomed in the cream soda, turn on the saucepan to medium heat and gently heat up your cream soda for 3 minutes or until the gelatin is completely dissolved. Do not boil it. Make sure to stir it well. Turn off the heat and add the butterscotch schnapps, vanilla vodka, and the butter-flavored extract. Stir well.
Transfer your liquids carefully from the saucepan to a large glass measure cup with a handle and pourable spout. This makes filling the small shot glasses much easier.
Fill each of your shot glasses, leaving a ¼ inch at the top so once your jello shots are set up, you can rim your glasses with the garnish. Place your tray of filled shot glasses into the refrigerator for 2 hours (up to overnight) to firm up.
In a small, shallow dish, pour in your gold sugar sprinkles. In a separate small bowl, place your thick jarred caramel sauce. You will first dip the top rim of your jello shot into the thick caramel, then into the gold sugar sprinkles. Repeat with the remaining jello shot glasses.
Squirt the whipped topping onto each jello shot, then drizzle with the squirt caramel topping. You can add extra sugar sprinkles to the top if desired.