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1
If you have already popped popcorn, you can substitute 7 ounces of popped popcorn instead of popping your own.
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2
If you are popping your own ... Pour oil into a large pot or a stovetop popcorn maker (I love my Whirley Pop!) and preheat it. If you are using a Whirley Pop or other popcorn maker, pop popcorn according to manufacturer's instructions. If using a pot, add kernels and cover the pot most of the way, leaving a crack for steam to escape. Swirl pot until popcorn stops popping or has about 3 seconds between pops. If using a Whirley Pop, turn handle until popping stops or has about 3 seconds between popping.
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3
Set popped popcorn aside and preheat oven to 200 F.
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4
In a medium saucepan over medium heat, melt butter, sugar, corn syrup and salt. Bring to a boil and let boil about 5 minutes then remove from heat and add baking soda and vanilla.
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5
Place popcorn into a large bowl and pour hot caramel over popcorn, stirring until every piece is covered.
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6
Divide popcorn between two baking sheets and bake in the preheated oven for 1 hour, stirring every 15 minutes or about 4 times throughout the hour.
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7
Remove from oven after one hour and let cool.
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8
Once cool, break apart large pieces and place into an airtight container, Ziplock bag, or serve immediately!