01 - Heat vegetable oil in a large pot over medium heat. Add popcorn kernels and cover with lid. Shake pot occasionally until popping slows significantly. Remove from heat and transfer popped corn to a large mixing bowl. Discard any unpopped kernels.
02 - In a medium saucepan over medium heat, combine granulated sugar, light corn syrup, water, unsalted butter, and salt. Stir constantly until sugar completely dissolves. Bring mixture to a boil, then continue boiling for 3–4 minutes without stirring until glaze thickens slightly.
03 - Remove saucepan from heat immediately. Stir in vanilla extract and red food coloring. Add additional food coloring drop by drop until desired rosy pink shade is achieved. Work quickly as glaze begins to set upon cooling.
04 - Pour hot pink glaze over popped popcorn in the large bowl. Using a heat-resistant spatula or greased hands, toss vigorously and continuously until all kernels are evenly coated with the pink candy mixture.
05 - Spread coated popcorn in a single layer onto a baking sheet lined with parchment paper. Allow to cool completely at room temperature for approximately 30 minutes. Break apart into clusters and serve immediately or store in airtight container.