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This stuff is addictive. I suggest immediately packaging it up in cute, festive containers and giving it away to friends and family. Just stash a little away for yourself!
Preheat oven to 250ºF. Place popcorn in a large roasting pan and place in the oven to keep warm while making the caramel coating.
In a medium saucepan over medium heat, melt butter. Stir in brown sugar, corn syrup and salt. Bring to a boil, stirring constantly. Boil without stirring 4 minutes. Remove from heat and stir in baking soda and vanilla. Remove popped corn from oven and carefully pour caramel mixture in a thin stream over popcorn, stirring to coat.
Spray two large rimmed baking sheets with cooking spray. Divide coated popcorn between the two baking sheets and bake in the oven at 250ºF, stirring every 15 minutes, for 30-45 minutes. Remove from the oven and let cool completely before breaking into pieces.
Store in an airtight container or zippered plastic storage bags.
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