This is a great half day trip. We took the boat but car or bus can get you there too. 45 min boat trip is worth thou.
This village is really beautiful and unique just fair warning: you HAVE TO climb a lot of stairs to get anywhere. My advise is: take a carrier for your child.
400 steps will lead you to the church SANTA MARIA DEL TASSO. The views from there are breathtaking. And the church and the chapel are worth to see too. There is a famous terrace cemetery next to it
How picturesque are the narrow streets of Morcote.
We want to come back (without the stroller) and investigate more. Little hike to the castle (even thou its private and you cannot enter) or climb to the San Salvatore monte ( or even better ascend from San Salvatore to Morcote).
I would recommend this trip a lot. Just keep in mind its a touristy place.