Cosimo Bambi, Ramy Brustein, Vitor Cardoso, Andrew Chael, Ulf Danielsson, Suvendu Giri, Anuradha Gupta, Pierre Heidmann, Luis Lehner, Steven Liebling, Andrea Maselli, Elisa Maggio, Samir Mathur, Lia Medeiros, Alex B. Nielsen, Héctor R. Olivares-Sánchez, Paolo Pani, Nils Siemonsen, George N. Wong

The black hole paradigm, while remarkably successful, raises fundamental questions-both classical and quantum-about the nature of spacetime, horizons, and singularities. Black hole mimickers, horizonless ultra-compact objects, have emerged as potential alternatives that seek to resolve some of these puzzles while remaining consistent with current observational constraints. Recent breakthroughs in gravitational-wave astronomy and horizon-scale electromagnetic imaging have opened new avenues to test this paradigm-making this an opportune moment to systematically investigate such alternatives. This vision document presents a snapshot of the field as discussed at the Black Hole Mimickers: From Theory to Observation workshop, where experts from gravitational wave astronomy, very long baseline interferometry, numerical and mathematical relativity, and high-energy physics converged to assess the current frontiers. By highlighting key open questions and proposing concrete pathways forward, this document aims to guide future efforts to probe the nature of compact objects. As the field stands at the crossroads of theoretical innovation and observational breakthroughs, we outline strategies to harness upcoming observational capabilities to fundamentally test the black hole paradigm.