1 cup packed brown sugar
1/2 cup (4 ounces, 8 tablespoons) butter
1/4 cup corn syrup
Pinch of salt
1/2 teaspoon baking soda
1 teaspoon vanilla extract
Place the popcorn in a large bowl (you'll want extra room in the bowl for tossing the popcorn with the caramel).
In a medium saucepan, add the brown sugar, butter, corn syrup and salt. Heat the ingredients over medium-low until the butter is melted and the ingredients are combined. Increase the heat to medium and bring the mixture to a simmer, stirring often.
Cook for 3-4 minutes, stirring often.
Off the heat quickly whisk in the baking soda and vanilla (the mixture will foam and bubble). See note below about adding marshmallows.
Immediately pour the caramel over the popcorn in a slow steady drizzle, tossing the popcorn to evenly coat in the caramel mixture. The caramel will set up and harden a bit as it cools so mix as quickly as you can (an extra set of hands can help during this step).
Serve immediately or within a couple hours.
*Notes: For softer, gooier popcorn, use less popcorn. Also, if you want to amp up the gooey factor (for a marshmallow vibe), stir in 8-10 large marshmallows after the caramel mixture has simmered.
From Mel's Kitchen Cafe