The actress confirmed plans for a Summer Bay comeback earlier this year and Gypsy's return scenes have just aired in Australia.
Offering the first teasers of Gypsy's storylines, Cooper told TV Week: "I create intrigue for some of the boys. But Gypsy's been hurt by so many things, and it's almost as if her smile is a façade."
Cooper also revealed that she has been working closely with Lisa Gormley as Gypsy forms a friendship with Bianca Scott.
"I don't know how my life existed without [Lisa]. We've been to dance classes and the movies - we've been dating, basically!" she joked.
Meanwhile, asked why she decided to return to Home and Away, Cooper replied: "Because I was offered it - and it's the best job in television!"
Cooper's original stint on Home and Away ran between 1998 and 2002.
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Watch a classic Home and Away Gypsy scene in the video below: