Bribed a porn producer to cast aspiring actress Maya Avant in one of his movies 
Tried to get Rick Forrester to dump Maya by casting her in a steamy web series 
Kissed the engaged Ridge Forrester while married to Rick Forrester 
Caroline is the daughter of Karen Spencer and the namesake of her aunt, Caroline Spencer Forrester, who died of leukemia in 1990 while married to Ridge Forrester. Karen had a relationship with Ridge's brother, Thorne Forrester, and nearly married attorney Connor Davis before leaving Los Angeles in 1994; while Caroline has two mothers in Karen and her spouse, Danielle, the identity of Caroline's father has not yet been revealed on-screen. Caroline sports a cancer ribbon tattoo on the back of her neck to honor the elder Caroline.
Caroline lived in New York until 2012 until she relocated to L.A. to accept a designing position at Forrester Creations. Caroline enjoyed the attentions of Forrester heirs Rick Forrester and Thomas Forrester; when Rick's ex-wife, Amber Moore, who wanted Rick back, showed Caroline photos that seemed to indicate Rick was a cross-dresser, Caroline gravitated toward Thomas. Caroline and Thomas helped clear their friend, Marcus Walton, who thought he had hit a man with his car while texting. Caroline was jealous when Thomas kissed his former love interest, Hope Logan, as a publicity stunt; later, when Rick and Thomas' power struggle at Forrester ended with Thomas throwing Rick through a second-story window, Caroline dumped Thomas and began seeing Rick.
Caroline overheard her uncle, Bill Spencer, Jr., admitting he had broken Hope's father, Deacon Sharpe, out of jail to sabotage Hope's wedding to Bill's son, Liam Spencer. When Caroline confronted Bill, she tripped and fell from a balcony, reassuring others that Bill hadn't pushed her. Caroline helped Rick win a fashion showdown that led to Rick being named president of Forrester, which deepened their relationship.
But the usually demure Caroline showed another, more materialistic side when Rick began volunteering at Dayzee's, a coffee house known for aiding the homeless. Caroline became jealous of Maya Avant, a down-on-her-luck actress/singer with whom Rick spent a lot of time. Caroline's plot to get the unsuspecting Maya cast in a porn film backfired when Maya didn't take the bait and Caroline's photo with adult performer Herc was leaked on the Internet. Caroline tried to impress the increasingly aloof Rick by holding a fundraiser for the Caroline Spencer Cancer Foundation, during which Rick and other male Forrester execs modeled sleepwear. But Caroline knew Rick wanted to break up with her and purposely sidestepped the subject for as long as she could.
Caroline embarrassed Maya, an ex-convict who had become a model at Forrester, by having Maya don prison-themed fashions in a mock prison cell. Caroline was hopeful when it seemed Maya was pulling away from Rick, but then learned it was only because Bill was blackmailing Maya to benefit Caroline. Hoping to drive a wedge between the reunited Rick and Maya, Caroline pulled strings to get Maya cast on the web series Room 8 alongside Forrester lawyer/actor Carter Walton. Caroline got the producer to sex up the scripts to annoy Rick, and her ploy would have worked had Maya not overheard Caroline on the set in a heated conversation over the show's racy content.
Caroline tried a more sincere approach when she worked with Rick to rebrand Hope's fashion line, Hope for the Future (HFTF). When the successful HFTF showing kept Rick from attending the premiere of Room 8, Caroline reluctantly reported that Carter had been seen leaving Maya's apartment the next morning. Caroline was surprised when a retaliatory Rick made love to her, and more so when Rick announced that he wanted to reunite with Caroline. After Caroline accepted Rick's proposal at the entrance of Forrester Creations, where they met, Caroline and Rick were married during Hope's impromptu engagement party at Thanksgiving.
Caroline confronted Maya after Maya approached Rick for a reconciliation, claiming she hadn't had closure with Rick. Caroline set Maya straight and disapproved of Maya's methods when Maya secretly recorded house photographer Oliver Jones admitting he was only dating young Aly Forrester for job security.
When Caroline decided she wanted to branch out into couture, she mentored with Ridge, who had fallen out of a helicopter in the Middle East and sustained brain damage. Caroline was unprepared for the sparks that flew when Ridge clasped his hand over Caroline's to help make changes to a design. Ridge confided to Caroline that his accident had left him unable to draw, so Caroline agreed to privately help Ridge design a collection. Caroline found herself fantasizing about Ridge; after they kissed, Caroline used Ridge's restored drawing ability as an excuse to dissolve the partnership. But Maya had spied Caroline kissing Ridge and reported them to Rick, who became CEO and overpriced Caroline and Ridge's collection in an attempt to sabotage it.
Caroline's apologies to the vengeful Rick fell on deaf ears; Caroline watched helplessly as Rick flaunted his affair with Maya in Caroline's face. Caroline was hopeful when Rick offered a reconciliation, but felt humiliated when it was only Rick's scheme to secure irrevocable control of the company from his father, Eric Forrester, who wanted Rick and Caroline to reunite. Fed up, Caroline began exploring possibilities with Ridge; Caroline was horrified when Rick caught her kissing Ridge and fired warning shots at them. Caroline's determination to call the police was thwarted by Rick's mother, Brooke Logan, who wanted to protect her son; instead, Caroline filed for a divorce, making love to Ridge using paint with which he was crafting Caroline's portrait.
Caroline travelled to New York to visit her mothers, keeping in touch with Ridge and her L.A. family via video calls. Upon coming home, Caroline revealed she had been struck by a car in the Big Apple, which broke her ankles. Caroline leaned on Ridge, literally, as he helped her out of her wheelchair and encouraged her to walk again. Meanwhile, Maya was publicly exposed as transgender thanks to Bill; Caroline, who had always felt Maya was harboring an earth-shattering secret, sympathized with the mellowing Rick and offered an olive branch to Maya. Caroline helped Ridge design the California Freedom line, whose showing featured Maya and other transgender models.Having reexamined her priorities as a result of her accident, Caroline admitted to Ridge that she wanted a baby. Caroline understood when Ridge, who already had adult children, didn't want more kids, but Caroline didn't understand when Ridge suddenly broke up with her. Caroline washed down antianxiety pills with too much wine and was shocked when she woke up next to Thomas, who informed her they had made love. Caroline swore Thomas to secrecy after Ridge had a change of heart; Caroline married Ridge on the bluffs of Malibu and soon learned she was pregnant. But when Ridge revealed he'd had a vasectomy years before, Caroline was forced to admit she was carrying Thomas' baby.
Despite her misgivings, Caroline went along with Ridge's decision that they raise Thomas' child as their own. Caroline found it hard to keep up the ruse as her fellow employees discovered her pregnancy and Thomas started asking questions about its paternity. Caroline and Ridge agreed to drop the subject completely to keep people from finding out. As Caroline's pregnancy progressed, she was glad that Brooke left Forrester to work at Spencer Publications, where Caroline showed Bill a book Danielle published that she started when Caroline was in middle school.
Caroline had to be rushed to the hospital when she went into a false labor, and Thomas was on hand when Caroline learned she was having a boy; Caroline privately consulted her doctor when told the consumption of alcohol or drugs at the time of conception could harm the fetus. Caroline shared the baby's gender with Ridge after he returned from a long business trip and incited Rick to move out of the Forrester mansion by replacing Rick's portrait of Maya with Stephanie's. Caroline and Ridge left their loft and moved into the mansion themselves after Rick departed.