Pepsi Is Now Selling “Cocoa” Cola- Chocolate Soda.December 18, 20208:10 am Pepsi just announced a new product called Pepsi “Cocoa” Cola. C-O-C-O-A. It’s Pepsi with a hint of a chocolate and marshmallow flavor. They announced Pepsi “Cocoa” Cola on Twitter on Thursday. It should be out in early 2021.