I'm not making these this year, but I recall colored snack popcorn as a favorite snack and gift in Hawaii (they come in bags, not in ball-form) so I went hunting in online archives of the local newspaper:
Rainbow Popcorn
5 to 6 cups freshly popped popcorn
1 tablespoon butter (not margarine)
1/2 cup water
1 cup sugar
1/8 teaspoon salt
1/2 teaspoon vanilla extract (optional)
Food coloring of choice (use red for one batch and green for another for a Christmas theme)
Preheat oven to 250 degrees.
Place popcorn in a shallow pan and place in oven to keep warm.
In a heavy saucepan, melt the butter and add sugar, water and salt; stir until sugar is dissolved. Boil about 20 minutes, until syrup just begins to color (about 275 degrees on a candy thermometer; hardball stage). Watch syrup carefully once it reaches 250 degrees; it will darken quickly if it gets too hot. To test: Syrup should form a firm ball when dropped into cold water.
Add vanilla and food coloring. Stir well. Pour in a stream over warm popcorn and quickly stir to coat each piece. Pour popcorn onto a sheet of baking parchment paper and separate each kernel. Be careful; syrup will be hot. Coating will harden as popcorn cools. Store in an airtight container.
Nutritional information unavailable.
Clean-up tip: Soak syrup pot, popcorn pan and utensils in water after use. When the syrup cools it will harden stubbornly onto any surface. After a good soak, though, you can just rinse it out; no scrubbing.
Other notes by the chef:
The technique here is to make a sugar syrup, color it and use it to coat the popcorn. Vigilance is the key: Undercook the syrup and it won't do the job; overcook it and it will become too dark and hard.
[The chef's] tip is to keep the popcorn warm in the oven while the syrup is under way. This makes the popcorn easier to coat and keeps it from cooling faster than you can separate the kernels - so you don't end up with popcorn balls.
Depending on how accomplished you are with the syrup, the sugar coating on your popcorn may get a bit grainy as the popcorn sits, so it won't quite match the store-bought variety. "Who cares?" my daughter, the snack food queen, said. "It tastes exactly the same."
Here's a pic of some made for Halloween:
