Begin by popping your popcorn using your preferred method—air-popped, stovetop, or a popcorn maker. Once it’s ready, place the popcorn in a large mixing bowl. Make sure to remove any unpopped kernels. Line a large baking sheet with parchment paper and set it aside for later.

In a medium saucepan over medium heat, melt the butter. Add the sugar, light corn syrup, water, and salt. Stir constantly until the mixture is well combined and the butter is fully melted.

Increase the heat slightly and allow the mixture to come to a gentle boil without stirring. Let it cook until it reaches 235°F on a candy thermometer (this is known as the soft-ball stage), which takes about 4–5 minutes.

Once the syrup reaches temperature, remove it from heat. Immediately stir in the vanilla extract and cotton candy flavoring. If you’re using gel food coloring, add it now to create the desired pink, blue, or multicolored hue.

Pour the hot candy mixture over the popcorn. Using a wooden spoon or heat-resistant spatula, stir gently but thoroughly to ensure all pieces are evenly coated.

Spread the coated popcorn in a single layer over your parchment-lined baking sheet. While it’s still warm and sticky, sprinkle with colored sprinkles for extra fun and texture. Allow the popcorn to cool for at least 30 minutes until set.

Once fully cooled, break the popcorn into clusters. Serve immediately, or store it in an airtight container to maintain freshness.