1 bag (8oz) of puffed popcorn*
1 c butter or margarine
1/2 c corn syrup
1 pkg (9oz) red hots
Place popcorn in very large bowl, set aside. Bring to a boil over med. heat, butter, syrup and red hots. Boil 5 min, stirring occasionally. Pour over popcorn, stir to coat evenly. Place onto two greased cookie sheets and bake for 1 hour at 250 degrees stirring every 15 minutes. Spread on wax paper to cool, break apart.
* you can find puffed popcorn in your chip aisle, this works best. You can pop regular popcorn and use it, make sure you remove all unpopped kernels,but I think you will have better results if you use the store bought puffs.