Mushroom popcorn pops perfectly round and ensures a more even coat of caramel.
Pop 3/4 cup of mushroom style popcorn kernels (should yield approximately 10 cups popcorn).
Place the popped popcorn and 1 1/4 cups peanuts into a large greased bowl.
Line a baking sheet with parchment paper.
Preheat oven to 350ºF.
Place all the caramel ingredients in a medium size saucepan.
Bring mixture to a boil over medium heat stirring constantly until a candy thermometer reaches 235ºF.
Immediately remove caramel from heat.
Pour hot caramel over the popcorn and peanuts while tossing with a spatula to ensure popcorn is evenly coated.
Spread the popcorn mixture on a baking sheet lined with parchment paper.
Bake the popcorn in the oven for 8 minutes.
Remove popcorn from the oven and toss with a spatula to ensure popcorn is evenly coated.
Return popcorn to oven and bake for another 5 minutes or until the caramel is deep golden brown.
Allow popcorn to cool completely before eating on its own, or using it as cupcake topping.